Brazil: Industrial production growth cools in October
Industrial production increased 1.1% month-on-month in seasonally-adjusted terms in October (September: +2.8% mom), marking the worst reading since April. The slowdown largely reflected a contraction in intermediate goods production. In addition, capital goods output lost pace. Lastly, durable consumer goods production lost traction, while non-durable consumer goods production fell.
On an annual basis, industrial output increased 0.3% in October, a softer expansion than September’s 3.7% rise. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.6% in October, down from September’s minus 5.5%.