Industrial production in Brazil rose 0.3 percent month-over-month in April 2019, rebounding from an upwardly revised 1.4 percent fall in the previous month and beating market expectations of a 0.7 percent decrease. Main gains were recorded in production of automotive vehicles & trailers (7.1 percent); machinery & equipment (8.3 percent); other chemicals (5.2 percent); food (1.5 percent); beverages (3.4 percent); metallurgy (1.7 percent); leather, travel goods & footwear (5.4 percent); textiles (5.8 percent); computer equipment, electrical & optical products (4 percent); and rubber & plastic (1.9 percent). Meanwhile, output declines were seen in mining & quarrying (-9.7 percent); and coke, petroleum products & biofuels (-2 percent). Year-on-year, industrial output went down 3.9 percent, after an upwardly revised 6.2 percent fall in March and compared with market consensus of a 2.8 percent decline. Industrial Production Mom in Brazil averaged 0.13 percent from 1985 until 2019, reaching an all time high of 25.10 percent in May of 1990 and a record low of -24.40 percent in April of 1990.
Industrial Production Mom in Brazil is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in Brazil to stand at 0.60 in 12 months time. In the long-term, the Brazil Industrial Production MoM is projected to trend around 1.30 percent in 2020, according to our econometric models.