Brazil: Industrial production grows slightly in November
January 7, 2019
Industrial production rebounded in November, after four consecutive monthly contractions. Industrial output rose 0.1% month-on-month in seasonally-adjusted terms, contrasting October’s revised 0.1% contraction (previously reported: +0.2% mom).
The rebound was fragile with only one major economic category—-intermediate goods—recording growth. Among sectors, industrial output expanded in 10 of 26, with food products recording the most significant expansion. In contrast, production of motor vehicles, trailers and bodies dropped sharply in November.
In annual terms, industrial production dropped 0.9%, contrasting October’s 0.7% increase. Accordingly, annual average growth fell to 1.9% in November from 2.4% in October, the lowest reading in one year.