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Financial News: BRAZIL: Industrial Output Increases In October In Line

BRAZIL: Industrial Output Increases In October In Line With Market Forecast

12/05/2017 - 16:44:00 (RTTNews)

(RTTNews) - Brazilian industrial production rose 0.2% in October from a month before, the same increase as in September and in line with economists expectations, said the country's statistics office.

On a monthly basis, 15 of the 24 activities surveyed showed an output increase, primarily influenced by pharmaceutical products (+20.3%) and beverages (+4.8%). At the negative end, there was a 5.7% decline in food products output. Meanwhile, coke, oil products, and biofuels production fell 2.6%.

Capital goods output rose 1.1% in October - the seventh consecutive month without negative results - while semi-durable and non-durable consumer goods halted two sequential drops to rise 2.0%. The production of intermediate goods fell 0.8%, while durable consumer goods interrupted three consecutive highs to fall 2.0%.

On an annual comparison, Brazilian industrial output increased in October for the sixth month in a row, at a 5.3% rate, the fastest pace since April 2013 and slightly above market expectations (+5.2%). From January to October, industrial production was 1.9% higher than in the same period a year earlier.

In the year-on-year comparison, 22 out of the 26 sectors surveyed showed positive results in production, with the output of motor vehicles, trailers and bodies rising 27.4%.

Meanwhile, capital goods production (+14.9%) and intermediate goods (+3.1%) rose for the sixth consecutive month increased by 4.9%, in its fourth advance in a row. The production of durable consumer goods posted its twelfth straight advance, by 17.6%.

Brazilian industrial output rose by 1.5% in 12 months through October.

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