Brazil Industry August 2018

Brazil

Brazil: Industrial production drops in August

October 2, 2018

Industrial production contracted for a second month in a row in August. Industrial output fell 0.3% month-on-month in seasonally-adjusted terms, a starker drop than July’s revised 0.1% decrease (previously reported: -0.2% month-on-month). The print undershot market expectations of a 0.1% increase.

The decline was driven by a sharp drop in the production of intermediate goods, while output of capital and consumer goods rebounded in August.

In annual terms, industrial production rose 2.0% in August, decelerating from July’s revised 4.1% increase (previously reported: +4.0% year-on-year). Annual average growth edged down from 3.4% in July to 3.2% in August.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 2.8% in 2018, which is unchanged from last month's estimate. In 2019, industrial output is expected to grow 3.7%, also unchanged from last month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Brazil Industry August 2018 0

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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