Brazil’s industrial production advances in June

Brazil’s industrial production index (IPI) grew by 8.9% m/m in June, seasonally adjusted, registering the second increase in a row after plummeting in March and April, as many factories stopped working due to the COVID-19 spread. The positive June figure was influenced by the motor vehicles segment, which grew by 70% m/m, as many factories resumed operations during this month. 

However, on an annual basis, the industrial production continues to stay below the levels observed before the pandemic. The indicator fell by 9% y/y in June, and by 11% y/y in H1 2020 compared to H1 2019.

Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q2 2020 report.