BLOOMBERG EXALTA CRESCIMENTO DO BRASIL ACIMA DO PREVISTO
Brazil’s January Industrial Production Rises by Most in a Year
By David BillerMar 11, 2014 9:25 AM GMT-0300
Brazil’s industrial production in January increased by the most in a year as output of durable consumer and capital goods both rose.
Production expanded 2.9 percent from the previous month after declining a revised 3.7 percent in December, the national statistics agency said today in Rio de Janeiro. That was more than forecast by 42 economists surveyed by Bloomberg, whose median estimate was for a 2.5 percent increase. Production fell 2.4 percent from the year before, a smaller decline than the 3.4 percent drop forecast by analysts.
Policy makers in the world’s biggest emerging market after China are paring stimulus measures as inflation persists above target and they face the threat of a sovereign credit downgrade. While growth accelerated last quarter on increased investments, analysts estimate the economy will moderate this year as the central bank continues to raise borrowing costs.
Swap rates on the contract maturing in January 2015 fell two basis points, or 0.02 percentage point, to 11.15 percent at 9:13 a.m. local time. The real was little changed at 2.3498 per U.S. dollar.
Output of durable consumer goods climbed 3.8 percent, the agency said today. Output of capital goods rose 10 percent. Of the 27 industries studied by the national statistics institute, output increased in 17, including a 29.4 percent jump in pharmaceuticals and an 8.7 percent rise in vehicles.
Brazil’s economy grew by 2.3 percent in 2013, including a 1.3 percent expansion in industry and 2.5 percent gain in exports. Gross domestic product expanded 0.7 percent in the last three months of the year after contracting in the third quarter.