November 4, 2015 / 11:46 AM / 5 years ago

UPDATE 1-Brazil industry output extends decline, down 10.9 pct y/y

(Adds table, breakdown by sector)
    By Silvio Cascione
    BRASILIA, Nov 4 (Reuters) - Brazil's industrial output fell
for a fourth straight month in September as automakers, metal
producers and other manufacturers were hit by a worsening
recession, government data showed on Wednesday.
    Industrial production fell a seasonally adjusted 1.3 percent
in September from August, statistics agency IBGE
said. The median estimate in a Reuters survey of 23 analysts
forecast a 1.5 percent decline.
    Production in September slid 10.9 percent from a year
earlier, the steepest decline since April 2009.
    Brazil's industrial output has been shrinking from a year
earlier since March 2014.
    Brazil's economy plunged into recession this year as
inflation and public sector debt soared, prompting tax and
interest rate increases that have weighed on business sentiment.
    The Brazilian economy is widely expected to shrink by about
3 percent this year and around 1.5 percent in 2016, in the
longest downturn for the South American country since the 1930s.
    In September, output dropped in 15 of 24 industrial segments
on a monthly basis, with a fall in automobiles and machinery
weighing most heavily on the industrial output decline. Higher
production of coal coke, oil derivatives and biofuels helped
limit the decline in the industrial production index, IBGE said.
    Industrial production may have declined again in October,
according to a purchasing managers' survey on Tuesday. The PMI
index for the Brazilian manufacturing sector fell
to a seasonally adjusted 44.1 in October, the lowest since March
2009, from 47.0 in September.
 (Percent change)                      Sep/Aug  Sep'15/Sep'14
 Capital goods                             1.0          -31.7
 Intermediate goods                       -1.3           -7.2
 Consumer goods                           -1.2          -12.1
     Durable consumer goods               -5.3          -27.8
     Semi-durable and                      0.5           -7.4
 non-durable consumer goods                     
 Industrial output                        -1.3          -10.9
 (Reporting by Silvio Cascione; Editing by Susan Fenton and W
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