Brazil’s industrial production growth slows down in October

The industrial output keeps growing in Brazil, albeit at a slower pace. The industrial production index (IPI) edged up by 0.3% y/y in October, after jumping by 3.7% y/y in September, when the indicator exceeded the pre-pandemic levels. The manufacturing IPI rose by 1% y/y in October, as 16 of 25 segments recorded a positive performance. The extractive output, on the other hand, fell by 6% y/y. 

On a year to date basis, the industrial output declined by 6.3% y/y in October, compared to the first ten months of 2019, due to 6.8% y/y drop in the manufacturing output, and a 2.8% y/y decrease in the extractive output.

Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q3 2020 report.