Brazilian industrial output grows in atypical December

industrial production brazil
Car factories had a strong December. Photo: Nelson Antoine/Shutterstock

Industrial production grew 2.9 percent between November and December, ending a six-month streak of negative or neutral results. The sector beat market expectations and enjoyed its biggest monthly growth rate of 2021, but still remains 0.9 percent below pre-pandemic levels.

Vehicle and food producers were the biggest drivers of growth (12.2 and 2.9 percent), although 20 of 26 surveyed segments had positive numbers.

Economist André Macedo, who oversaw the survey for the Brazilian Institute of Geography and Statistics, celebrated the results and their positive effects on employment. However, the rise in inflation and economic uncertainty could push future figures down.