Brazil Industry January 2019


Brazil: Industrial production drops in January

March 13, 2019

Industrial production contracted in January, falling 0.8% month-on-month in seasonally-adjusted terms. The result contrasted December’s revised 0.2% increase (previously reported: 0.0% mom).

The slump was driven by falling output of capital, intermediate and consumer goods. Among sectors, industrial output contracted in 13 of the 26 surveyed, with pharmaceutical products recording the most significant decline.

On an annual basis, industrial production plunged 2.6% in January, following December’s 3.6% decrease. Annual average growth in industrial production dropped to 0.6% from December’s 1.3%, the worst reading since September 2017.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 3.0% in 2019, which is unchanged from last month's estimate. In 2020, industrial output is expected to grow 3.4%.


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Brazil Industry Chart

Brazil Industry January 2019

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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