Brazil Industry November 2016


Brazil: Industrial production expands in November

January 5, 2017

In October, industrial production rose 0.2% from the previous month in seasonally-adjusted terms, which contrasted the 1.2% contraction recorded in October. The result was below expectations of a stronger 2.0% increase. Behind the upturn was a rebound in the output of capital and intermediate goods.

In annual terms, industrial production fell 1.1%, which was an improvement compared to the 7.3% decrease recorded in October and marked the smallest drop since March 2014. 16 of the 26 categories that the Brazilian Institute of Geography and Statistics (IBGE) surveyed recorded expansions as green shoots emerge in the economy. The largest expansion was seen in the motor vehicles and trailers category. Annual average growth in industrial production improved from minus 8.4% in October to minus 7.5% in November.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production falling 1.2% in 2017, which is down 0.1 percentage points from last month's estimate. In 2018, industrial output is expected to grow 2.8%.

Author: Angela Bouzanis, Lead Economist

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