Brazil: Industrial production rebounds, posts first annual increase in 14 months
December 4, 2012
In October, industrial production rose a seasonally adjusted 0.9% over the previous month. The increase contrasted the 0.6% decline observed in September but undershot the 1.2% expansion expected by the market. In annual terms, industrial output rose for the first time in 14 months, expanding 2.3% in October (September: -3.6% year-on-year), 13 out of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE) registered an increase in output.
The largest rise was observed in durable goods, followed by intermediate goods. As a result of the annual increase in October, the downward trend in place since December 2010 has ended, with annual average growth in industrial production edging up from minus 3.1% in September to minus 2.7%.