Brazil: Industrial production growth slows in November
In November, industrial production grew 0.2% over the previous month in seasonally-adjusted terms, down from the revised 0.3% increase (previously reported: +0.2% month-on-month) registered in October. The result marked the third consecutive month of industrial production growth in Brazil.
Behind the slight slowdown, was a contraction in the production of consumer goods, while capital good output ground to a halt. However, output of intermediate goods swung to expansion in November.
In annual terms, industrial production rose 4.7% in November, which was below October’s 5.5% increase. The annual average variation in industrial production accelerated from 1.6% in October to 2.1% in November, the best result since March 2014.