São Paulo – The Monthly Apparent Industrial Goods Consumption Indicator from the Institute of Applied Economic Research (Ipea) was down 2.3% in September from August, it reported this Wednesday (21). The drop in the indicator was driven by a 4% decline in imports and a 1.3% decline in domestic production of said goods.
Year-on-year in September, demand was down 1.8%. The slowdown in September from August came mostly as a result of weaker consumption of capital goods, down 17.7%, and durable consumer goods, down 7.5%.
“Despite the drop in September, the third quarter ended with a 2.7% increase from quarter two and a 4.1% increase from quarter three, 2017,” Ipea planning and research technician and the report’s author Leonardo Mello de Carvalho said.
Translated by Gabriel Pomerancblum
