SÃO PAULO – Brazil’s industrial production experienced a modest increase in October, driven by the growth in output of food and intermediate goods, such as metal products and rubber and plastic materials.
According to the Brazilian Institute of Geography and Statistics (IBGE), production rose by a seasonally adjusted 0.1% in October, representing a 1.2% increase compared to the same period last year. The previous month’s figure was revised by the IBGE to show no change, contrary to the initial report of a 0.1% increase, while the year-on-year figure remained at a growth rate of 0.6%.
The month saw a 0.9% growth in output of intermediate goods, with metal products showing a notable increase of 2.3% and rubber and plastic materials growing by 1.3%. However, the significant positive impact on the index was attributed to the growth in output of food products, which witnessed a substantial increase of 1.6%, as reported by the IBGE.
On the other hand, output of capital goods and consumer goods both declined by 1.1% in October. Within the consumer goods category, production of durable goods experienced a consecutive monthly decline for the second month, dropping by 2.4%, according to the IBGE.
