In August 2018, the national industrial production changed -0.3% over July (seasonally-adjusted series), the second negative rate in a row and accumulated in the period a reduction of 0.4%. It is worth highlighting that this downward trend occurred after the industrial activity decreased 10.9% in May and grew 12.7% in June. In relation to August 2017 (non-adjusted series), the industry grew 2.0%, the third consecutive positive result, yet the less intense in the sequence.

The indexes were positive for the cumulative index of the year (2.5%) and for the cumulative index in the last twelve months (3.1%), but from 3.3% in July to 3.1% in August 2018, industry shows a slight loss of pace, after interrupting in May (3.0%) the upward trend started in June 2016 (-9.7%). The complete publication of the Monthly Survey of Industry (PIM-PF) can be accessed on the right of this page.

14 of the 26 subsectors of industry recorded decrease

The decrease of 0.3% in the industrial activity from July to August 2018 had negative rates in two of the four major economic categories and in in 14 out of the 26 subsectors surveyed. Among the sectors, the main negative influence was that of coke, petroleum products and biofuels, which fell by 5.7%, interrupting the sequence of predominatly positive results observed since March 2018, a period when there was a cumulative increase of 14.5%. It is worth mentioning that, in the result of the month, the sector was affected by the interruption of services in an important production unit.  Other important negative contributions to the industry overall came from beverages (-10.8%), food products (-1.3%) and mining and quarrying industries (-2.0%). Except for the last activity, which prevented the increase of production observed since last March and that had a cumulative increase of 6.8%, the subsectors recorded negative rates in July: -0.5% and -2.0%, respectively. On the other hand, among the twelve subsectors which expanded their output this month, the most important performances in the global average were recorded by motor vehicles, trailers and bodies (2.4%), pharmaceuticals (8.3%), computer, electronic and optical products (5.1%) and pulp, paper and paper products (2.0%).  With these results, the first sector recorded increase again after falling 3.9% in the previous month; the second recorded an expanison of 15.0% in two months of increase in a row; the third one eliminated part of the decrease of 7.7% registered in July; and the last one advanced for the third consecutive month and had a cumulative gain of 22.0% in the period.

Among the major economic categories, also against the previous month, intermediate goods (-2.1%) and semi and non-durable consumer goods (-0.6%) accounted for the negative figures in August 2028, with the former interrupting two consecutive months of increase of output, a period with expansion of 9.2%; and the second one intensifying the loss of 4.0% recorded last July.  On the contrary, the segment of capital goods, having grown 5.3%, recorded the most significant increase in August 2018 and reversed part of the 5.4% decrease of the previous month.  Durable consumer goods (1.2%) recorded the only positive rate this month and eliminated the decrease of 0.7% registered in July.

Quarterly moving average grows 3.8%

Still concerning the seasonally adjusted series, the evolution of the quarterly moving average index for the overall industry pointed to an expansion of 3.8% in the quarter ended August 2018 against the level of the previous month, the most significant increase since the start of the time series. Industry has remained on an upward trend since May 2018.  Among the major economic categories, also in relation to the marginal movement of the index, the segments of durable consumer goods (8.9%) and capital goods (7.2%) registered the highest positive results in August 2018, with both recording increase again after facing decline in July: -1.0% and -1.4%, respectively. The sectors producing semi and non-durable consumer goods (4.2%) and intermediate goods (2.2%) also reported positive rates in the month and the most significant increases in their time series, having remained, therefore, on an upward trend since May 2018.

Industry rises 2.0% in relation to August 2017

Compared with August 2017, the industrial sector expanded 2.0% in August 2018, recording positive figures in all four major economic categories, in 14 out of the 26 subsectors, in 38 of the 79 groups and in 50.7% of the 805 products surveyed. It is worth highlighting that August 2018 (23 days) had one the same number of business days as August a year ago (23).

Among the activities, motor vehicles, trailers and bodies (15.0%) exerted the main positive influence on the industry average, pressed, to a great extent, by the increased production of cars, tractor trucks for trailers and semi-trailers, trucks, trailers and semi-trailers, car pieces and bodies for buses and trucks.  It is also worth mentioning the positive impact coming from the sectors of coke, petroleum products and biofuels (4.4%), pulp, paper and paper products (11.6%), machinery and equipment (8.8%), other chemicals (3.3%), mining and quarrying industry (1.5%), pharmaceuticals (7.5%) and metal products (4.3%). 

On the other hand, also in comparison with August 2017, among the twelve subsectors which recorde decrease of production, the main impact on the industrty overall was registered by food products (-4.6%), mainly due, to a great extent, by the smaller production of crystallized and VHP sugar, frozen poultry and giblets, concentrated juices and animal feed. It is also woth mentioning the negative contributions from computer, electronic and optical products (-7.7%) and textiles (-5.3%), mainly due to the items televison sets, mobile telephones, portable personal computers (laptops, notebooks, tablets or the like), radios, video monitors, antennas, central units for supervision and automation control in industry and telephone switching equipment, in the former; raw or whitened or plain or patterned cotton fabric, twisted cotton yarn, non-woven fabric, synthetic filament yarns, synthetic filament fabrics (raw or whitened), bed linen (bedspread, blankets and sheets) made of fabric and synthetic fibers, in the latter. 

Compared with the same month a year ago, durable consumer goods, (9.7%) and capital goods (8.2%) recorded, in August 2018, the biggest increases among the major economic categories. Intermediate goods (1.2%) and semi- and non-durable consumer goods (0.1%) also registered positive results, but they were below the average of industry (2.0%).

The segment of durable consumer goods recorded and increase of 9.7% in August 2018 against the same period a year ago, the third positive rate in a row, but the lowest in the sequence June (14.6%) and July (16.9%). This month, the sector was particularly leveraged by the increasing manufacture of cars (18.1%). It is also worth mentioning the expansion in motorcycles (28.3%), white goods (0.3%) and other household appliances (2.3%).  On the other hand, the major negative impact was recorded by brown goods (-11.9%) and furniture (-2.5%).

The sector producing capital goods recorded increase of 8.,2% in the index of August 2018, the third positive result in a row, above that of last July (7.4%). In the formation of the monthly index, the segment was mainly influenced by the increase of capital goods for tramsportation equipment (13.2%),as a result of the bigger production of tractor trucks for trailers and semi trailers, trucks and trailers and semi-trailers. The other positive rates were recorded by capital goods for industrial use (5.4%), for construction (24.8%), for agriculture (7.8%) and for electricity (0.6%). On the other hand, the only negative impact was that of capital goods for mixed use (-4.0%).

Against the same month a year ago, the segment of intermediate goods, having increased by 1.2% in August 2018, recorded the third positive rate in a row, but with a result below those of June (2.1%) and July (3.8%). The result of this month was due to the advances o products associated with the activities of coke, petroleum products and biofuels (5.4%), cellulose, paper and paper products (13.9%), motor vehicles, trailers and bodies (8.7%), other chemicals (3.3%), mining and quarrying industry (1.5%), metal products (5.0%), basic metals (1.3%), rubber and plastic products (1.1%) and non-metallic mineral products (0.9%), whereas negative contributions came from efood products (-10.3%), textiles (-6.6%) and machinery and equipment (-1.8%). Also in this economic category, it is worth mentioning the results recorded by typical inputs for civil construction (0.0%), after two months of increase; and packaging (4.7%), which marked the third advance in this type of comparison, but the lowest one in this sequence.

The production of semi and non-durable consumer goods recorded a change of 0.1% in the monthly index of August 2018, the third positive result in a row, but below thiese observed in June (2.6%) and July (1.6%). The monthly performance was due to the expansion of fuels (2.5%), mainly because of the increased production of ethyl alcohol. It is also worth mentioning the positive results of the groups non-durable goods (0.9%) and food and beverages for domestic consumption (0. 2%). On the other hand, the subsector of semi-durable goods (-3.1%) recorded an only negative rate in this category, pressed, above all, by the production of shirts, blouses and other for female use (knitted or not), mobile telephones, shirts for male use, CDs, swimsuits and bikinis, shorts or the like for male use, plastic and leather footwear (for women), slacks for women, DVDs, pants, shorts, overalls, ond other for women, male leather footwear, mattresses, skirts, dresses, sneakers made of syntheic material and twin sets for men (knitted or not). 

Industry records cumulative result of 2.5%

Compared with the same period in the previous year, the January-August 2018 cumulative index for the industrial sector registered 2.5%, recording positive figures in the four major economic categories, 16 out of the 26 sectors, 45 out of the 79 groups and 52.4% of the 805 products surveyed. Among the activities, motor vehicles, trailers and bodies (27.9%) exerted the highest positive influence on the industry average, pressed to a great extent by items cars, tractor trucks for trailers and semi-trailers, trucks and car pieces.

Other relevant positive contributions to the overall industry came from coke, petroleum products and biofuels (2.9%), basic metals (5.1%), machinery and equipment (5.3%), computer, electronic and optical products (10.2%), pulp, paper and paper products (5.7%), beverages (3.3%) and rubber products and plastic material (2.8%). 

Among the 10 activities that reduced their output, food products (-2.3%) accounted for the biggest negative contribution to the overall industry, pressed, to a large extent, by the items crystallized sugar and VHP sugar, frozen poultry and giblets, animal feed and concentrated fruit juice. It is worth mentioning the negative results coming from the subsectors of leather, travel articles and footwear (-5.3%) and manufacture of wearing apparel and accessories (-3.0%), mainly due to decreases in the production of sneakers made of synthetic material, in the former, and shirts, blouses and other for female use (knitted or not), shirts for male use (knitted or not), slacks for women, pants, shorts, overalls, ond other for women, bras, t-shirts, swimsuits and bikinis, and also shorts, socks and other for male use, socks and stockings made of synthetic or artificial fiber, sleeping clothes, bathing clothes for female use, twin sets for men, panties, skirts and boxers, in the latter. 

Among the major economic categories, the profile of results for the first two months of the year had a greater dynamism for durable consumer goods (13.8%) and capital goods (9.0%), leveraged, to a great extent, by the increasing manufacture of cars (17.8%) brown goods (15.0%), in the former; and of capital goods for transportation equipment (17.1%), in the latter. The sectors producing semi and non-durable consumer goods (1.5%) and semi and non-durable goods (0.6%) also reported positive rates in the cumulative index in the year, though below the national average (2.5%).