National industry
Industrial output up by 0.5% in November
January 05, 2024 09h00 AM | Last Updated: January 05, 2024 10h31 PM
From October to November, industrial production in the country increased by 0.5%, adding to the pace of increase from the results in October (0.1%), September (0.1%) and August (0.2%). The cumulative index in the year changed by 0.1%, e, nos últimos 12 meses, com variação nula (0,0%), segue com o comportamento de estabilidade observado desde maio de 2023 (0,0%). The data come from the Monthly Survey of Industry (PIM), released today (5) by the IBGE.
“Despite the positive 0.9% cumulative in the year in the last four months, industrial production is still 0.9% below the pre-pandemic level (February 2020) and 17.6% below the record level reached in May 2011, says André Macedo, manager of the survey.
Two of the four broad economic categories and 13 out of 25 industrial sectors surveyed had an increase in output from October to November 2023, showing a balanced profile between positive and negative rates in this comparison.
Among the activities of industry, Mr. Macedo mentions mining and quarrying industry (3.4%) and food products (2.8%) as the main positive influences: “Mining and quarrying industry was influenced by the increased extraction of oil and iron ore, and made up for the drop of 0.4% in October. The sector of food products, with sugar, soybean and beef products as the main highlights, marked its 5th month with increase in production, and had a cumulative increase of 6.3% in the period.”
On the other hand, among the twelve activities surveyed with decrease in output, pharmaceuticals (-10.2%) and motor vehicles, trailers and bodies (-3.1%) accounted for the main impacts in November 2023, with both making up for the advances in the previous month: 3.5% and 1.0%, respectively.
Among the broad economic categories, also from the previous month, intermediate goods (1.6%) recorded the most significant increase in November 2023, after advancing in October (0.7%) and September (0.8%). Producers of semi and non-durable goods (0.2%) also recorded a positive rate in the month after two consecutive months of output decrease, when there was a cumulative drop of 1.9%.
The segments of capital goods (-1.7%) and semi and non-durable consumer goods (-3.3%) also reported negative figures in November 2023, both of them registering the third consecutive negative rate and with cumulative drops of 4.7% and 9.7% in this period, respectively.
With a profile of decrease among the activities of industry advances by 1.3% in the interannual comparison
Against November 2022, the industrial sector grew by 1.3%, with positive figures in two out of four broad economic categories, 10 of the 25 sectors, 32 of the 80 groups and 46.9% of the 789 products surveyed.
Among the activities, the main positive influences on the industry overall were reported by mining and quarrying industry (14.5%), coke, petroleum products and biofuels (11.6%) and food products (4.7%). It is also worth mentioning the positive contributions of the sectors: beverages (5.4%), textiles (9.6%) and wood products (10.6%).
On the other hand, also against November 2022, among the 15 activities recording drops, motor vehicles, trailers and bodies (-15.%), pharmaceuticals (-19.0%),computer equipment, electronic and optical products (-22.4%) and machinery and equipment (-10.2%) accounted for the main influences.
“This result marked the fourth consecutive month of growth in output after declining 1.2% last July, when it interrupted two consecutive months of positive figures in this type of comparison. However, this month’s index has kept the widespread profile of negative rates, reaching 15 out of 25 industrial sectors surveyed. Therefore, a bigger number of activities on the negative side is noticed for the 15th month in a row in this type of comparison,” Mr. MAcedo highlights.
More about the survey/strong>
PIM Brasil has been producing short-term indicators since the 1970s regarding the behavior of the real product of mining and quarrying and manufacturing industries. March 2023 marked the beginning of the release of the new time series of monthly indexes of the industrial production, after a redesign to update the sample of activities, products and informants; create a new weighting structure of the indexes based on the most recent industrial statistics; update the base year of reference of the survey; and incorporate new Federation Units in the release of regional results of the survey. The survey results are also available at the Sidradatabase. The next release of Industrial Production - Brazil, with results for the month of November, will be on February 2nd.
