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Brazil Industry October 2019

Brazil: Industrial output growth gathers momentum in October

Industrial production increased 0.8% month-on-month in seasonally-adjusted terms in October, accelerating to a five-month high from September’s 0.3% increase. Moreover, the result came in above market expectations of 0.7% growth.

November’s solid outturn was largely driven by stronger output of intermediate goods and nondurable goods, whereas production of capital goods continued to decline and consumer goods output growth moderated. Among sectors, industrial output grew in 14 of the 26 sectors surveyed, with the main positive contribution coming from food products, and pharma-chemicals and pharmaceuticals. In contrast, mining and quarrying output contracted in the month as did production of coke, petroleum products and biofuels.

On an annual basis, industrial production grew 1.0% in October, matching September’s revised reading (previously reported: +1.2% year-on-year).

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