Brazil Industry July 2017

Brazil

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%.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 1.2% in 2017, which is up 0.2 percentage points from last month's estimate. In 2018, industrial output is expected to grow 3.0%.


Author: Angela Bouzanis, Senior Economist

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