SAO PAULO–Brazil’s industrial production rose in December, the first increase in seven months, as output of durable goods jumped and production of capital goods increased.
Production rose a seasonally adjusted 2.9% in December and fell 5.0% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. The IBGE revised the number for November to flat in the month from a decline of 0.2% and left the figure for November from a year earlier unchanged at down 4.4%.
Brazilian industry has been plagued by the same supply problems that affected businesses around the world in 2021 as backed up ports, a shortage of containers and higher shipping costs got in the way of production. In Brazil, high unemployment and rapid inflation have also cut into demand.
Production increased in all the major categories measured in the report, with output of durable goods rising the most in the month at 6.9%. Production of capital goods increased 4.4%, output of consumer goods rose 3.1% and production of intermediate goods grew 1.2%.
Source: Market Watch