Brazil: Industrial production growth accelerates in July
September 5, 2017
In July, industrial production growth came in at 0.8% over the previous month in seasonally-adjusted terms, which was an acceleration from June’s revised 0.2% increase (previously reported: 0.0% month-on-month). The result overshot market expectations of a 0.5% increase.
Behind the acceleration was faster growth of capital and intermediate goods. In addition, the output of consumer goods also picked up.
In annual terms, industrial production grew a moderate 2.5%, a notable pick up from June’s 0.6% increase. In addition, the trend improved notably and the annual average variation in industrial production rose to minus 0.9% from minus 1.7%.