Industrial output down a cumulative 8.1% in January-November

Brazil's industrial production dropped 2.4% in November 2015 from October 2015, closing out the January-November period at a cumulative 8.1% decline. The data was released on Thursday (Jan. 7) by the Brazilian Institute of Geography and Statistics (IBGE) and shows that the decline in November was the sharpest since December 2013 (-2.8%).

Compared to November last year, industrial production dropped 12.4%—the 21st consecutive negative rate in year-over-year comparisons, and the sharpest decline since April 2009 (-14.1%). The cumulative 12-month rate was a negative 7.7%, the sharpest drop since November 2009 (-9.4%), continuing the downward trend started in March 2014 (2.1%).

According to IBGE, the 2.4% decline between October and November reflects a predominance of negative results in the country's industrial output, which impacted three of the four major economic sectors and 14 of the 24 industries surveyed.

Translated by Mayra Borges