Brazil: Industrial production falls in March
May 3, 2012
In March, industrial production decreased a seasonally adjusted 0.5% over the previous month. The fall contrasted both the 1.3% increase observed in February and market expectations of a rise of the same magnitude. Compared to the same period of 2011, industrial output fell for a seventh consecutive month and contracted 2.1% in March (February: -4.0% year-on-year). Of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE), 18 categories registered a decrease in output. The largest fall was observed in intermediate goods, followed by semi- and non-durable goods. The trend continues to point downwards, with annual average growth in industrial production inching down from minus 1.0% in February to minus 1.1% in March.