Brazil: Industrial production flat in October
December 2, 2014
In October, industrial production recorded zero growth over the previous month on a seasonally-adjusted basis. The figure marked an improvement over September’s 0.2% contraction. Flat growth was recorded in both intermediate goods (September: 0.0% seasonally-adjusted month-on-month) and capital goods (September: +1.9% seasonally-adjusted mom). However, consumer goods rose 0.2% in October, which marked a decrease from September’s 1.0%. In annual terms, industrial production fell 3.6% in October (September: -2.1% year-on-year).
A decrease in output was recorded in 16 of the 24 categories that the Brazilian Institute of Geography and Statistics (IBGE) surveyed. The biggest negative impacts were recorded in the production of pharmaceuticals as well as in motor vehicles, trailers and trucks. Among the categories in which output increased, food products registered the largest positive contribution.
Following the fall in annual figures, annual average growth in industrial production deteriorated from minus 2.1% in September to minus 2.4% in October, marking the lowest level since September 2012.