Brazil: Industrial production growth hits over four-year high in December
In December, industrial production grew 2.8% over the previous month in seasonally-adjusted terms, up from the revised 0.3% increase (previously reported: +0.2% month-on-month) registered in November. The result marked the fastest expansion since June 2013.
Behind the acceleration, was a rebound in the production of consumer goods and faster growth in output of intermediate goods. However, capital goods output stuttered in December.
In annual terms, industrial production rose 4.3% in December, which was below November’s 4.7% increase. The annual average growth in industrial production accelerated from 2.0% in November to 2.4% in December, the best result since July 2011.