In March 2018, the national output of industrt recorded a negative change of 0.1% against the previous month, in the seasonally-adjusted series, after having changed by 0.1% in February. In the series without adjustment, in relation to march 2017, industry increased 1.3% in March, the 11th posiive rate in a row and the lowest since June 2017 (0.8%).

Industry recorded an increase of 3.1% in 2018 and 2.9% in the last twelve months. That index repeated the result of February and remained at its highest since June 2011 (3.6%), having remained on an upward trend since June 2016 (-9.7%). With that result, the output of industry was 15.3% below the record figure of May 2011. The complete publication of the Monthly Output of Industry (PIM-PF) can be accessed on the right of the page. 

From February to March, 14 of the 26 subsectors surveyed recorded decrease 

In the decrease of industry output, by 0.1%, from February to March, 14 of the 26 subsectors surveyed recorded negative rates, the main highlights being the decreases in beverages (-3.6%), pharmaceuticals (-4.2%), electrical machinery and apparatuses (-4.2%), metal products (-3.2%), wood products (-6.1%) and leather products, luggage and footwear (-2.7%). It is worth mentioning that, except for the first two activities which also indicated negative results in the previous month, the others had recorded positive rates in February 2018: 1.1%, 2.6%, 2.6% and 3,9%, respectively.

On the other hand, among the twelve subectors with increase of output in the month, the most relevant performances to the overall average were those of mining and quarrying industry (3.9%) and toiletries, soaps and cleaning and personal hygiene products (4.7%), with the former having returned part of the decrease of 5.2% recorded in the previous month; and the latter as the second positive result on a row and cumulative increase of 11.0%, in the period. 

Among the major economic categories, also in comparison with February results, intermediate goods, having decreased by 0.7%, recorded the only negative rate in the month and marked the third onth in a row with decrease of output, a period which recorded cumultive decrease of 3.9%. On the other hand, the sectors which produce capital goods (2.1%) and durable consumer goods (1.0%) accounted for the most significant increase in March 2018; therw were two consecutive months of increase of output, a period marked by positive results (2.9% and 4.2%, respectively). The segment of semi and non-durable consumer goods (0.2%) also recorded a positive result ion the month, reversing, that way, the 0.8% loss registered last February. 

Also in the seasonally adjusted series, the evolution of the quarterly moving average recorded a decrease of 0.7% in the quarter ended March 2018 frente agains the level a month ago, and interrupted the upward trend initiated in May 2017. Among the major economic categories, also in relation to February, the negative results came from intermediate goods (-1.3%) and durable consumer goods (-0.5%). The former recorded decrease for the second month in a row; the latter interrupted the upward trend initiated in October 2016. On the other hand, the segment of capital goods, having increased by 0.9%, kept its positive bahavior observed sincr February 2017. Semi and non-durable goods (0.0%) recorded null change in March 2018, interrupting the upward trend observed since November 2017.

Against March 2017, industry grew 1.3% in March 2018, with poitive results in two of the four main economic categories, 12 of the 26 subsectors, 44 of the 79 groups and 48.0% of the 805 products surveyed. It is worth mentioning that March 2018 (21 days) had two days less than the same month a year ago (23). Among the activities, motor vehicles, trailers and trunks (17.6%) accounted for the main positive contribution in industry, stimulated by the manufacture of cars, tractor-trucks for trailers and semi-trailers, trucks and car pieces. Other relevant contributions to the national overall came from computer equipment, electronic and optical products (24.5%), basic metals (6.1%), pharmaceuticals (9.5%), pulp, paper and paper products (6.5%), toiletries, soaps and cleaning and personal hygiene products (10.7%), machinery and equipment (3.5%), maintenance, repair and installation of machinery and equipment (8.3%), rubber products and plastic material (2.3%) and furniture (7.0%).

On the other hand, also against March 2017, consideting the 14 activities with output decrease, the main contribution to the industry overall was that of coke, petroleum products and biofuels (-6.0%), mainly due to automotive gasoline, diesel and fuel oils. It is also worth mentioning the negative contributions from other chemicals (-6.8%), electrical machinery and apparatuses (-7.8%), leather products, luggage and footwear (-8.7%), mining and quarrying industry (-1.3%), metal products (-4.8%), beverages (-4.0%), manufacture of wearing apparel and accessories (-5.7%), non-metallic mineral products (-3.0%) and oher transportation equipment (-6.5%).

Versus March 2018, durable consumer goods (15.8%) and capital goods (8.3%) recorded, in March 2018, positive results among the main economic categories. On the other hand, the segments of intyermediate goods (-0.2%) semi-and non-durable consumer gooods (-1.7%) recorded negative results in the month. 

The segment of durable consumer goods increased 15.8% in March 2018 in comparisosn with the same period a year before, the seventeenth posirtive rate in a row in this type of comparison, higher thain that of last February (13.2%). In the month, the sector was mainly influenced by the increase in the production of cars (14,8%) and of brown goods (51.2%). It is also worth mentioning the expansions recorded by motorcycles (14.6%), furniture (5.5%) and other household articles (5.0%). On the other hand, the main negative impact came from white goods (-8.3%).

Capital goods recorded an increase of 8.3% in March 2018, the eleventh positive result in a row in this type of comparison, almost a repetition of the February result (8.5%). In the index of the month, the segment was mainly influenced by the advances observed in capital goods for transportation equipment (17.4%), mainly due to the bigger production of tractor trucks for trailers and semi-trailers and trucks. The other positive rates were those of capital goods for mixed use (18.8%) and for construction (42.0%). On the other hand, the main negative impacts came from capital goods for electricity (-10.7%), for industrial use (-1.6%) snd for agriculture (-2.9%).

Also against March 2017, intermediate goods recorded negative change of 0.2% and interrupted a series of ten monthswith consecutive positive rates. The result in the month was a consequence, mainly, of the decreases in other chemicals (-6.9%), coke, petroleum products and biofuels (-3.8%), mining and quarrying industry (-1.3%), metal products (-3.8%), non-metallic mineral products (-3.0%), textiles (-2.8%) and food products (-0.1%), whereas the posive contributions were registered by motor vehicles, trailers and trunks (10.1%), basic metals (6.1%),pulp, paper and paper products (7.8%), rubber products and plastic material (2.4%) and machinery and equipment (1.8%).

The output of semi and non-durable goods, having decreased 1.7% in the monthgly index of 2018, interrupted five months of positive rates in this type of comparison. The performance in the month resulted, to a great extent, from the decreases in fuels (-12.8%), food and beverages for domestic consumption (-2.1%) and semi-durables (-4.9%). On the other hand, the subsector of non-durables (6.7%) recorded the only positive rate in this category. 

The cumulative index in the year, versus the same period in 2017, increased 3.1%, with positive results in the main economic categories, 16 of the 26 subsectors, 55 of the 79 groups and 53.3% of the 805 products surveyed. Among the activities, motor vehicles, trailers and trunks (20.0%) accounted for the biggest contribution to the overall rate of industry, mainly due to the items cars, tractor trucks for trailers and semi-trailers, trunks and car pieces. Other relevant positive contributions to the national total came from computer equipment, electronic and optical products (26.1%), basic metals (8.1%), food products (2.5%), machinery and equipment (6.3%), pulp, paper and paper products (7.7%), pharmaceuticals (7.9%), rubber products and plastic material (4.4%), beverages (4.1%), wood products (11.7%), toiletries, soaps and cleaning and personal hygiene products (7.6%) furniture (8.9%). On the other hand, among the ten activities which recorded decrease, the main contributions to the industry overall came from coke, petroleum products and biofuels (-6.0%) and mining and quarrying industry (-2.2%).

Among the major  economic categories, the results of the first quarter of 2018 recorded bigger dynamism of durable consumer goods (16.3%) and capital goods (10.8%), mainly due, to a great extent, to the expansion of car manufacture (13.2%) and household appliances (26.0%), in the former; and capital goods for transportation equipment (21.8%), for construction (56.5%) and for mixed use (18.0%), in the latter. Intermediate goods (1.7%) and semi and non-durable goods (0.8%) also recorded cumulative rates in the year, although below the national average (3.1%).