Brazil Industry September 2017

Brazil

Brazil: Industrial production rebounds in September

November 1, 2017

In September, industrial production rose 0.2% over the previous month in seasonally-adjusted terms, which contrasted August’s revised 0.7% increase (previously reported: -0.8% month-on-month). The result undershot market expectations of a stronger rebound to 0.6% growth.

Behind the upturn was a return to growth in the production of intermediate goods. However, output of consumer goods dropped from the previous month.

In annual terms, industrial production grew 2.6% in September, a notable deceleration from August’s 4.0% increase. The largest expansion was seen in output of motor vehicles, trailers and bodies. The trend improved notably and the annual average variation in industrial production swung from minus 0.1% in August to plus 0.4% in September.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 3.1% in 2018, which is unchanged from last month's estimate. In 2019, industrial output is expected to grow 3.2%.


Author: Angela Bouzanis, Senior Economist

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Brazil Industry September 2017

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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