Brazil's national statistics agency, the Instituto Brasileiro de Geografia e Estatistica (IBGE), has reported that Brazilian industrial production fell 0.6 percent month on month in November 2012, following the 0.1 percent increase recorded in October compared to September. The IBGE said that the month-on-month decrease in November was mainly driven by the 6.7 percent output decrease in the mining and quarrying sector and the 2.8 percent decrease in the output of motor vehicles.
However, industrial production was down one percent in November last year compared to November 2011. The country's basic metal production fell by four percent in November, while the output in the motor vehicle sector fell by 7.5 percent, both compared to the same month of the previous year.
In the production index in Brazil for the first 11 months of 2012, the decline was 2.6 percent for the overall industry on year-on-year basis. The index of production for motor vehicles was down 13.3 percent, continuing to exert a major negative influence on the formation of the overall index. The IBGE also mentioned the negative contribution of basic metals, which were down 4.2 percent year on year, in the total production index for the first 11 months of the year.
