Brazil Industry November 2018

Brazil

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.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 3.5% in 2019, which is unchanged from last month's estimate. In 2020, industrial output is expected to grow 3.1%.


Author: Angela Bouzanis, Senior Economist

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Brazil Industry November 2018 0

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: Brazil Institute of Geography and Statistics (IBGE) and FocusEconomics calculations.


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