Brazil: Industrial output flatlines in June
Industrial output recorded zero growth in month-on-month seasonally-adjusted terms in June (May: +1.4% mom s.a.). June’s reading largely reflected falling output of intermediate goods and consumer goods, while capital goods production expanded.
On an annual basis, industrial output rose at a more moderate pace of 12.0% in June (May: +24.0% yoy). Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 7.8% in June, up from May’s 6.1% reading.