Brazil Industrial Activity Update

Brazil's industrial production contracted by 0.2% in May, missing expectations and ending a four-month growth streak. Performance was weighed down by weak mining and capital goods output.

Key Takeaways

• 1.Industrial activity in Brazil declined 0.2% mom sa in May, missing consensus expectations of +0.3%.
• 2.The sector performance was dragged down by mining and capital/intermediate goods, though consumer durables saw a 3.6% growth.
• 3.Economic support factors for the sector include fiscal transfers and real wage growth, countered by tight financial conditions.

Table of Contents

• Brazil: Softer Than Expected Industrial Activity in May With Weak Performance from Mining
• KEY FIGURES (May)
• DETAILS
• IP Softened in May Following Strong Jan-Apr Performance
• Disclosure Appendix

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