Industry in Brazil
Brazil - Industry
Industrial output falls in December, rounding out worst performance in three years in 2019
Industrial production slipped 0.7% in month-on-month seasonally-adjusted terms in December, following the 1.7% decline in November (previously reported: -1.2% month-on-month). The print missed market expectations of a softer 0.5% dip.
Capital goods output fell at the sharpest rate in over a year-and-a-half and production of consumers goods also declined in December, albeit at a softer pace than in November. On the bright side, intermediate goods output rebounded slightly in the month. Among sectors, industrial output fell in 17 of the 26 surveyed, with the largest drops recorded in the automotive and machinery and equipment sectors.
On an annual basis, industrial production dropped 1.2% in December, which was less steep than the 1.7% decline registered in November. All told, average industrial output fell 1.1% in 2019 compared to the 1.0% rise registered in 2018 and marked the worst result since 2016.
FocusEconomics LatinFocus Consensus Forecast panelists see industrial production rising 2.6% in 2020, which is up 0.2 percentage points from last month's estimate. In 2021, industrial output is expected to grow 2.8%.
Brazil - Industry Data
|Industrial Production (annual variation in %)||-3.0||-8.2||-6.4||2.5||1.0|
5 years of economic forecasts for more than 30 economic indicators.
Brazil Industry Chart
Source: Brazil Institute of Geography and Statistics.
|Bond Yield||6.79||-0.82 %||Dec 31|
|Exchange Rate||4.02||-0.13 %||Jan 01|
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February 21, 2020
Brazil’s current account deficit widened significantly to USD 11.9 billion in January from January 2019’s USD 9.0 billion shortfall and December’s revised USD 5.3 billion deficit (previously reported: USD 5.7 billion deficit), which marked the worst result in five years. January’s deterioration came as the merchandise trade balance swung from surplus to deficit (January 2020: USD 1.7 bn deficit; January 2019: USD 1.6 bn surplus), due to plunging merchandise exports and representing the worst performance since February 2015.
February 20, 2020
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV) fell to 87.8 points in February from 90.4 points in January.
February 17, 2020
The Brazilian real continued its downward spiral in early February, hitting an all-time low of BRL 4.36 per USD on 12 February, marking an over 6.0% depreciation over the prior month.
February 14, 2020
Economic activity fell 0.3% in seasonally-adjusted month-on-month terms in December, following November’s revised 0.1% decrease (previously reported: +0.2% month-on-month) and missing expectations of a softer 0.2% drop.
February 12, 2020
Retail sales, excluding cars and construction, fell 0.1% over the prior month on a seasonally-adjusted basis in December, contrasting November’s revised 0.7% increase (previously reported: +0.6% month-on-month).