In November 2017, industrial output in the country had an increase of 0.2% against the October figure, in the seasonally-adjusted series. That is the third poitive result in a row, with cumulative increase of 0.9% in three month.

In the series without seasonal adjustment, against the November 2016 results, industry increased by 4.7%, the seventh positive rate in a row, in spite of the figure recorded in October this year (5.5%). The cumulative index increased 2.3%, in the year, and 2.3%, in the last 12 months. That was the best result since September 2014 (2.3%). The complete publication is available here.

From October to November, 12 of the 24 subsectors of industry recorded increase

From October to November 2017, there was increase in two of the four major economic categories and in 12 of the 24 subsectors surveyed.  Among the subsectors, the main positive contributions came from Pharmaceuticals (6.5%), with cumulative gain of 26.6% in the last two months and with loss of 18.5% recorded in September.  Toiletries, soaps, cleaning products and personal hygiene increased 1.9%, after having decreased 10.3% in the months of September and October.

Basic metals increased by 2.2%, being still on an upward trend since August 2017, a period when there was expansion of 7.6%.  With an increase of 0.7%, food products (0.7%) recovered a mall part of the 5.3% decrease observed in October.  Pulp, paper and paper products increased 2.3%, the fourth positive result in a row, with 3.7% of increase in the period.

Among the eleven subsectors which faced decrease of output in the month, the subsector of beverages (-5.7) accounted for the biggest contribution to the overall average.  Other relevant negative impacts came from the sectors of manufacture of wearing apparel and accessories (-5.8%), miscellaneous products (-9.0%), machinery and equipment (-1.4%) and motor vehicles, trailers and trunks (-0.7%).

Among the major economic categories, also in the month-on-month comparison, durable consumer goods (2.5%) recorded the most significant increase and eliminated the reduction of 1.7% recorded in October.  The subsector of intermediate goods (1.4%) reversed the decrease of 0.5% of October, whereas capital goods (0.0%) interrupted the positive sequence observed since April 2017.  Semi-durable and non-durable consumer goods (-1.6%) recorded the only negative result in the month, after having increased 1.0% in October.

Quarterly moving average changes 0.3%

Also concerning the seasonally-adjusted series, the evolution of the quarterly moving average index for the overall industry pointed to an increase of 0.3% in the quarter ended in November 2017 over the previous month and maintained the downward trend started in April 2017. Considering the major economic categories, the increases were recorded by durable consumer goods (1.0%), intermediate goods (0.6%) and capital goods (0.4%).  The segment of semi-durable and non-durable consumer goods (-0.8%) has remained on a downward trend in August 2017.

Industry increased 4.7% against November 2016 figure

In comparison with November 2016, industry recorded an increase of 4.7% in November 2017, with positive results in all the four major economic categories, 20 of the 26 subsectors, 56 of the 79 subsectors and 805 products surveyed.

Among the activities, motor vehicles, trailers and bodies, which fell 25,6%, exerted the major negative influence in the formation of the industrial average, pushed, to a great extent, by the lower production of cars, trucks, tractor trucks for trailers and semi-trailers and car parts.

Other positive contributions to the national overall came from basic metals (10.3%), other chemicals (7.1%), food products (2.4%), rubber products and plastic material (8.0%), computer, electronic and optical products (12.8%), pulp, paper and paper products (5.2%), mining and quarrying industry (1.4%), pharmaceuticals (8.0%), electric machinery and apparatus (7.9%), furniture (13.6%), beverages (3.4%), machinery and equipment (2.6%) and coke, petroleum products and biofuels (1.0%). On the other hand, also in comparison with November 2016, between the six activities which recorded increase in output, the main influence of the industry overall recorded by miscellaneous products (-9.0%).

Also in comparison with November 2016, durable consumer goods (15.2%) and capital goods (8.1%) recorded, in November 2017, the most significant increases in the major economic categories.  The segments of intermediate goods (4.2%) and of semi-durable and non-durable consumer goods (3.0%) also recorded positive rates in the month.

The segment of durable consumer goods recorded increase of 15.2% in November 2017 in comparison with the same period a year ago, the thirteenth positive rate in a row, but below that of last October (18.0%).  In the month, the sector was mainly influenced by the increased production of cars (20.1%).  It is worth mentioning the increases recorded by white goods (18.6%) and "brown goods" (8.1%), motorcycles (18.0%), other household articles (11.5%) and furniture (10.0%). 

The sector that produces capital goods recorded an increase of 8.1% in November 2017, the seventh positive result in this type of comparison, but also not as high as the October figure (14.8%).  The main influence was the advance of capital goods for transportation equipment (13.3%), with an increased production of trucks and tractor trucks for trailers and semi-trailers.  The other positive figures were recorded by capital goods for construction (78.9%), for mixed use (14.5%), for industrial use (18.7%), for agriculture (32.2%) and for electric energy (3.4%). The only negative result was that of agricultural capital goods (-18.2%).

The segment of intermediate goods, having increased 4.2% in November 2017, accounted for the seventh consecutive positive rate, the highest since April 2013 (6.8%).  This result was mainly due to the increases in the products related to the activities of motor vehicles, trailers and trunks (15.7%), basic metals (10.3%), other chemical products (7.2%), coke, petroleum products and biofuels (3.9%), rubber products and plastic material (8.0%), pulp, paper and paper products (6.5%), metal products (5.3%), mining and quarrying industry (1.4%), machinery and equipment (3.4%), textiles (2.9%) and non-metallic mineral products (0.3%), whereas the only negative contribution came from food products (-3.2%). Also in this economic category, it is worth mentioning the positive results recorded by the groups of inputs for civil construction (4.3%), which recorded the biggest increase since February 2014 (5.1%); and packaging (4.9%), which accounted for the fourth consecutive positive rate. 

The output of semi-durable and non-durable consumer goods recorded an increase of 3.0% in the monthly index of November 2017, the second positive result in a row, in this type of comparison.  The development in this month resulted, to a major extent, by the increase observed in the group of food products and beverages elaborated for domestic consumption (6.5%).  The subsectors of non-durable (2.5%) and semi-durable consumer goods (0.6%) also recorded positive results in the month.  The only negative rate in this category was that of fuels (-5.5%) due to the reduced production of automotive gas.

Industry grows 2.3% in Jan-Nov 2017

In the cumulative index for January-November 2017, against the same period in 2016, industry recorded an increase of 2.3%, with positive results in the four main economic categories, 19 of the 26 subsectors, 50 of the 79 groups and 55.9% of the products surveyed.  Among the activities, motor vehicles, trailers and trunks (16.6%) and mining and quarrying industry (5.3%0 accounted for the main positive contributions to the average of industry.

Other positive contributions to the national total came from computer, electronic and optical products (19.6%), basic metals (3.7%), food products (1.0%), rubber and plastic products (4.2%), machinery and equipment (2.9%) and manufacture of wearing apparel and accessories (4.8%).

Among the major economic categories, the behavior of the results of the first nine months of 2017 showed bigger dynamism for capital goods (12.7%) and capital goods (5.8%), particularly influenced by the increase in the manufacture of cars (19.7%) and household appliances (10.8%), in the former; and capital goods for transportation equipment (7.0%), for mixed use (17.8%) and for construction (39.2%), in the latter. It is worth mentioning, in the two groups, the influence of the low basis for comparison, once in the period January-November 2016 these segments recorded decreases of 15.7% and 11.9%, respectively.  The producers of intermediate goods (1.4%) and of semi-durable and non-durable consumer goods (1.1%) also recorded positive rates in the cumulative index in the year,  but with increases below the national average (2.3%).