2023.02.0311:42:00UTC+00Brazil Industrial Production Remains Flat In December

Brazil's industrial production showed zero variations at the end of the year, after falling slightly in the previous month, preliminary data from the statistical office IBGE showed on Friday.

Industrial production logged a nil change from November, when it dropped by 0.1 percent. That was in line with economists' forecasts.

With these results, the Brazilian industry is 2.2 percent below the pre-Covid-19 pandemic level and 18.5 percent below the record level for the series, in May 2011, the IBGE said.?

Among the major economic categories, the sector producing intermediate goods was the only one to log a negative result in December, falling by 2.1 percent over the month.

On the other hand, consumer goods output grew 2.2 percent monthly in December, and that of capital goods rose 1.8 percent.

On an annual basis, industrial production contracted 1.3 percent in December, reversing a 0.9 percent rise in the prior month. That was just above the expected fall of 1.1 percent.

During the year 2022, total industrial production fell 0.7 percent compared to a 3.9 percent expansion in 2021.