Brazil: Industrial production continues to fall in April
May 31, 2012
In April, industrial production declined a seasonally adjusted 0.2% over the previous month. The fall followed the 0.5% decrease observed in March and contrasted market expectations of a flat reading in April. Compared to the same period of 2011, industrial output fell for an eighth consecutive month and contracted 2.9% in April (March: -1.9% year-on-year). Of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE), 13 categories registered a decrease in output. The largest fall was observed in semi- and non-durable goods, followed by durable goods. The trend continues to point downwards, with annual average growth in industrial production inching down from minus 1.0% in March to minus 1.1% in April.