Brazil: Industrial production rises at the fastest pace in 15 months
October 2, 2012
In August, industrial production rose a seasonally adjusted 1.5% over the previous month. The increase tripled the 0.5% increase observed in July but was below market expectations of a 2.0% expansion. In annual terms, industrial output fell for a twelfth consecutive month and contracted 2.0% in August (July: -2.7% year-on-year). Of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE), 20 of them registered an increase in output. The largest increase was observed in durable goods, followed by intermediate goods. As a result of the annual contraction in August, the trend continues to point downwards, with annual average growth in industrial production falling from minus 2.5% in July to minus 2.9%.