Brazil Industry January 2018

Brazil

Brazil: Industrial production contracts in January

March 6, 2018

In January, industrial production contracted 2.4% over the previous month in seasonally-adjusted terms, contrasting the revised 3.1% increase (previously reported: +2.8% month-on-month) registered in December. The result marked the sharpest contraction since February 2016.

Behind the fall was a broad-based contraction in the production of consumer goods, intermediate goods and capital goods.

In annual terms, however, industrial production rose 5.7% in January, which was above December’s 4.5% increase and marked an almost five-year high. Annual average growth in industrial production was 2.7% in January, up from 2.4% in December and the best result since July 2011.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 2.0% in 2018, which is down 0.1 percentage points from last month's estimate. In 2019, industrial output is also expected to grow 2.0%.


Author: Angela Bouzanis, Lead Economist

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Brazil Industry January 2018

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: Brazil Institute of Geography and Statistics (IBGE) and FocusEconomics calculations.


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