Free Trial

Mizuho on Industrial Production Data Released Earlier Today

  • Brazil’s industrial production unexpectedly fell 0.2% MoM in November, marking the sixth consecutive month of declining output and the ninth in the last ten months. Analysts were looking for a 0.1% MoM gain.
  • The breakdown of the manufacturing data showed a sharp decline in production of capital goods (-3.0% MoM) and production of intermediate goods was flat.
  • On a positive note, consumer goods output rose slightly (0.1% MoM) and mining activity rebounded 5.0% MoM.
  • Importantly, industrial production dropped 2.1% QoQ in the quarter through November, leaving a carryover of -1.4% for the fourth quarter. Thus, industry data show that the sector continues having trouble gaining traction amid high production costs and input supply problems.
  • Inventories remain low though, which provides room for some improvement going forward, but early indicators of industrial activity for December suggest that any growth will be moderate.
  • Industry confidence fell a further 1.9% MoM in December, with the current conditions index dropping 2.62%, and capacity utilization declined a full percentage point last month.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.