Brazil: Industrial output declines in November
January 9, 2020
Industrial production fell 1.2% month-on-month in seasonally-adjusted terms in November, contrasting October’s upwardly revised 0.8% increase (previously reported: +0.3% month-on-month). November’s result marked the worst performance in eight months.
The downturn was widespread in November, with contractions recorded in capital goods, intermediate goods and consumer goods output. Among sectors, industrial output fell in 16 of the 26 surveyed, with the main negative contributions stemming from the chemical and machinery and equipment sectors.
On an annual basis, industrial production dropped 1.7% in November, contrasting October’s 1.1% rise. Annual average industrial production declined 1.3% in November, worsening from the 1.2% contraction in October.
Author: Lindsey Ice, Economist