Brazil: Industrial production ekes out slight growth in February
April 5, 2017
In February, Brazil's industrial production rose 0.1% from the previous month in seasonally-adjusted terms, contrasting January’s revised 0.2% contraction (previously reported: -0.1% month-on-month). The meagre growth came in short of market expectations of a larger 0.7% increase. Behind the result was a rebound in capital goods production and stronger growth in output of consumer goods.
In annual terms, industrial production contracted 0.8% in February (January: +1.4% year-on-year). 17 of the 26 categories that the Brazilian Institute of Geography and Statistics (IBGE) surveyed recorded contractions as a sustained recovery has yet to emerge in the economy. The largest contraction was seen in petroleum products and biofuels. Annual average variation in industrial production improved from minus 5.2% in January to minus 4.5% in February.