Brazil: Industrial production rebounds in December
Industrial production rebounded in December, growing 0.2% month-on-month in seasonally-adjusted terms. The result contrasted November’s revised 0.1% contraction (previously reported: +0.2% mom).
The rebound was fragile with only one major economic category—-intermediate goods—recording growth. Among sectors, industrial output expanded in 11 of 26, with food products recording the most significant expansion.
In 2018, industrial production grew 1.1%, below 2017’s 2.5% expansion. The slowdown was driven partly by the second quarter’s truckers’ strike which disrupted economic activity.