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Industrial output grows 2.8% in December and closes 2017 with a high of 2.5%

February 01, 2018 09h00 AM | Last Updated: February 01, 2018 05h28 PM

In December 2017, the national industrial output grew 2.8% in relation to November, in the seasonally adjusted series – the greatest high since June 2013 (3.5%). In the last four months, the rates were positive, accumulating a high of 4.2%.

Period Rate
December 2017/November 2017 2.8%
December 2017/December 2016 4.3%
Cumulative in 2017 2.5%
Quarterly moving average 1.2%

In relation to December 2016, the industry had a high of 4.3% – the eighth consecutive positive rate in the comparison with the same month a year ago (non-adjusted series), but below October (5.5%) and November (4.7%). As a result, over the same period of 2016, the industry grew 4.9% in the fourth quarter and 4.0% in the second half of the year.

In the cumulative index of 2017, the industrial output grew 2.5%, after decreases in 2014 (-3.0%), 2015 (-8.3%) and 2016 (-6.4%).

The complete publication, presentation and time series of the Monthly Survey of Industry (PIM-PF Brazil) are on the right of this page.

 

Short-Term Indicators of Industry by Major Economic Categories 
Brazil - December de 2017
Major Economic Categories  Change (%)
December 2017/
November 2017*
December 2017/
December 2016
Cumulative
January-December
Cumulative in the last 12 months
Capital Goods 0.0 8.8 6.0 6.0
Intermediate Goods 1.7 4.2 1.6 1.6
Consumer Goods  2.7 3.9 3.2 3.2
  Durables 5.9 20.8 13.3 13.3
  Semi-durable and non-durable 3.0 0.2 0.9 0.9
General Industry 2.8 4.3 2.,5 2.5
Source: IBGE, Diretoria de Pesquisas, Coordenação de Indústria
*Seasonally adjusted series

From November to December 2017, 20 of the 24 industrial subsectors surveyed recorded increases

Against November 2017 figures, industry recorded increases in three of the four major economic categories and in 20 of the 24 subsectors surveyed. The main positive contributions came from motor vehicles, trailers and bodies (7%), which reversed the 0.8% decrease of the previous month, and food products (3.3%), which advanced for the second month in a row and had a cumulative increase of 4.3%.

Other relevant positive contributions were those of rubber products and plastic material (6.9%), basic metals (4.2%), computer equipment, electronic and optical products (10.3%) other transportation equipment (15.2%), miscellaneous products (21.2%), metal products (6.0%), pulp, paper and paper products (3.3%), and toiletries, soaps, cleaning and personal hygiene products (1.8%).

Among the four subsectors which faced decrease of output in December, some highlights were pharmaceuticals (-12.1%), coke, petroleum products and biofuels (-2.1%) and mining and quarrying industry (-1.5%). The first one eliminated part of the increase of 22.8% accumulated in October and November 2017; the second has had significant loss of 5.6% since October 2017 and the third one faces decrease after advancing 0.6% in November.

Regarding the main economic categories, also in comparison with November 2017, durable consumer goods had the biggest increase (5.9%) and accounted for the second consecutive positive result, with 8.9% accumulated in the period. The segments of semi and non-durable goods (3.0%) and intermediate goods (1.7%) also recorded increase, with the former reversing the loss of 2.4% registered in the previous month, and the latter with  cumulative increase of 3.0% in two consecutive months of increse. Capital goods (0,0%) had a null change, and that interrupted the positive behavior observed since April 2017, a period when there was exansion of 12.4%. 

Quarterly moving average records increase of 1.2% in December 2017

The evolution of the quarterly moving average index for the overall industry pointed to an increase of 1.2% in the quarter ended in December 2017 over the previous month and maintained the downward trend started in April 2017.

Among the major economic categories, durable consumer goods (2.4%) had the main high in December and repeated the positive result observed since April 2017. The producers of intermediate goods (0.9%), semi and non-durable consumer goods (0.6%) and capital goods (0.5%) also recorded increases in December 2017. The first one increased its pace of expansion against the November 2017 figure; the second interrupted a series of three months of negative rates, resulting in cumulative decrease of 1.6%. The last one recorded the ninth consecutive expansion and had cumulative increases of 12.3% in the period.

Industrial output increased 4.3% against result of December 2016

In comparison with November 2016, industry recorded an increase of 4.3% in November 2017, with positive results in all the four major economic categories, 20 of the 26 subsectors, 51 of the 79 subsectors and 54% of the 805 products surveyed.

Among the activities, that of motor vehicles, trailers and bodies (25.1%) exerted the main positive influence on industry.

Other relevant contributions to the industry overall came from basic metals (18.1%), food products (2.9%), pulp, paper and paper products (10.1%), from computer equipment, electronic and optical products (19.9%), rubber products and plastic material (8.0%), other chemicals (2.6%), metal products (5.8%), textiles (11.9%), electrical machinery and apparatuses (6.6%), other transportation equipment (10.7%), pharmaceuticals (5.8%) and wood products (8.3%).

Considering the five subsectors recording decrease, the main negative contributions came from mining and quarrying industry (-3.0%) and manufacture of wearing apparel and accessories (-15.5%).

Among the main economic categories, durable consumer goods (20.8%) and capital goods (8.8%) had the biggest increases in December 2017, against the same period in 2016. The segments of intermediate goods (4.2%) and semi-durable and non-durable consumer goods (0.2%) also recorded increase, but were still below the national average (4.3%).

Durable consumer goods increased 20.8% in December 2017, the 14th consecutive positive – and biggest – change since February 2014 (23.3%). This month, the sector was boosted by the increased output of cars (24.5%), motorcycles (112.5%), white goods (5.7%) and brown goods (5.0%), furniture (6.1%) and other household appliances (19.8%).

Capital goods increased 8.8% in December 2017, the eighth positive result in a row, slightly higher that that of November (8.4%). The segment was mostly influenced by the increase in capital goods for transportation equipment (21.4%). The other positive rates were registered by capital goods for mixed use (29.4%), for construction (50.1%), for industril use use (4.4%) and for electricity (4.9%). The only negative contribution came from the group  capital goods for agriculture (-28.2%).

The segment of intermediate goods, having increased 4.2% in December 2017, accounted for the eighth consecutive positive rate, the highest since April 2013 (6.8%). The result was mainly a consequence of the advances in basic metals (18.1%), motor vehcicles, trailers and bodies (18.4%), food products (7.1%), pulp, paper and paper products (12.1%), rubber products and plastic material (8.5%), metal products (7.7%), other chemicals (2.4%), textiles (9.7%), machinery and equipment (6.2%), coke, petroleum products and biofuels (0.5%) and non-metallic mineral products (1.0%).

Other positive results of intermediate goods came from typical inputs for civil construction (7.3%), which marked the most significant increase since April 2013 (9.6%), and packaging (5,4%), with its fifth positive rate in a row. The only negative result came from mining and quarrying industry (-3.0%).

Semi and non-durable consumer goods changed 0.2% in December 2017, the third positive result in a row, but the lowest in this sequence. The good performance was probably a result of the high in non-durable goods (4.7%) and elaborated food and beverages for domestic consumption (0.9%). The negative rates in this category were those of semi-durables (-6.5%) and fuels (-1.6%).

Industry grew 4.9% in the last quarter of 2017

Against the same period of 2016, industrial output increased 4.9% in Q4 2017, with the biggest increase since the Q2 2013 (5.1%) and repeated the positive performance as in the first three months of 2017: January-March (1.3%), April-June (0.4%) and July-September (3.2%). The result interrupted a series of 11 quarters in a row with negative results in these comparisons.

The increase in the pace of output from the third (3.2%) to the fourth (4.9%) quarter of 2017 was observed in three of the four major economic categories, the main highlights being durable consumer goods (from 14.6% to 17.8%) and capital goods (from 7.6% to 10.7%). The first segment was mainly influenced by the output of household appliances (from 8.5% to 11.1%), furniture (from 7.6% to 16.1%) and motorcycles (from -8.6% to 32.5%), whereas the second had an impact oo capital goods for transportation (from 13.0% to 19.6%), for construction (from 50.2% to 62.8%) and for industrial use (from -2.0% to 4.5%).

Intermediate goods (from 1.7% to 3.9%) also recorded increases between the two periods, whereas the segment of semi-durable and non-durable goods (from 2.9% to 2.8%) recorded slight decrease in the pace of growth.

Brazilian industry had a hike of 2.5% in 2017 

The cumulative figure in 2017, in comparison with 2016,  reflect the increase of industry (2.5%), with positive results in the four main economjc categories, 19 of the 26 subsectors, 51 of the 79 groups and 56.4% of the 805 products surveyed. 

Motor vehicles, trailers and bodies (17.2%) accounted for the main positive contributions, followed by mining and quarrying industry (4.6%), computer equipment, electronic and optical products (19.6%), basic metals (4.7%), food products (1.1%), rubber products and plastic material (4.5%), pulp, paper and papepr products (3.3%), machinery and equipment (2.6%) and tobacco products (20.4%).

Among the seven subsectors recording decrease of output, coke, petroleum products and biofuels (-4.1%) rpresented the main negative contribution, mainly due to the item diesel. Other important losses were those of other transportation equipment (-10.1%), pharmaceuticals (-5.3%), non-metallic mineral products (-3.1%) and electrical machinery and apparatuses (-3.5%).

Among the major economic categories, the highlights were durable consumer goods (13.3%) and capital goods (6.0%), influenced by the low basis for comparison, with -14.4% and -10.2%, respectively, accumulated in 2016. The former category was affected by the increase of car production (20.1%) and household appliances (10.5%) and the second one, by capital goods for transportation eqipment (7.9%), for mixed use (18.8%) and for construction (40.1%).

Producers of intermediate goods (1.6%) and semi and non-durable consumer goods (0.9%) also recorded a cumulative increase in the year, but with advances below the national average (2.5%).