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Financial News: BRAZIL: Industrial Output Rises For The Fourth Month

BRAZIL: Industrial Output Rises For The Fourth Month In A Row

09/05/2017 - 19:23:00 (RTTNews)

(RTTNews) - Brazilian industrial production rose 0.8% in July compared to June, the fourth consecutive increase on a monthly basis, according to the national statistics office. Analysts expected a 0.5% growth.

On a monthly basis, 14 out of the 24 activities surveyed showed an increase in output, with food products posting the best results, growing for the third consecutive month (+2.2%). Petroleum products and biofuels industries also increased their production (+1.9%) electronic and optical products sector (+ 5.9%).

At the other end, the most significant negative performances were recorded in the extractive industries (-1.5%) toiletries (-1.8%) and metallurgy (-2.1%).

The production of capital goods increased by the fourth consecutive month in July from June, by 1.9%, as well as of intermediate goods, which rose 0.9% durable consumer goods returned to growth (+2.7%) semi-durable and non-durable consumer goods grew 2.0%.

On an annual comparison, Brazilian industrial output increased by 2.5% in July - also surpassing market estimates of a 1.0% rise. From January to July, the industrial production was 0.8% higher than in the same period a year earlier.

In the year-on-year comparison, 17 out of the 26 sectors surveyed showed positive results in production, with the output in food products and motor vehicles rising 6.7% and 11.8%, respectively. Oil products and biofuels (-3.6%) had one of the worst production performance, alongside metallurgy (-3.8%).

Capital goods production rose for the third consecutive month on an annual basis (8.7%). Intermediate goods also rose for the third time, by 0.6%, while semi-durable and non-durable consumer goods increased 4.2% after declining in the previous month. The production of durable consumer goods advanced for the ninth time in a row, at an 8.1% pace.

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