Brazil's industrial output was down 1.8% in March from February. According to the Monthly Industrial Survey released by the Brazilian Institute of Geography and Statistics (IBGE) in Rio today (May 3), the indicator has continued to go down in the first months of this year—the figure for February was 0.4% down from January.

Compared to March 2016, output levels moved up 1.1%, and in the January-March period, up 0.6%. The cumulative 12-month index, however, was a negative 3.8%.

Categories

The four major economic categories within the industrial sector were down in March compared to February, especially durable consumer goods, which saw a 8.5% decline in production. Capital goods (machinery and equipment) were down 2.5%, as well as intermediate goods (industrial inputs for production). Semi-durable and non-durable consumer goods was down 1.8%.

Fifteen of the 24 industries surveyed have experienced declines in March compared to February, chiefly pharmaceuticals (-23.8%) and motor vehicles, trailers and semi-trailers (-7.5%).