Industrial Production grows 0.7% in February
April 01, 2022 09h00 AM | Last Updated: April 05, 2022 11h45 AM
In February 2022, industrial production grew 0.7% compared to January, in the seasonally adjusted series, offseting part of the 2.2% drop recorded in the previous month. Compared to February 2021, there was a decrease of 4.3%. The industry has accumulated a fall of 5.8% in the year and growth of 2.8% in the last twelve months. With these results, the industrial sector is 18.9% below the record level reached in May 2011.
|February 2022 / January 2022||0.7%|
|February 2022 / February 2021||-4.3%|
|Cumulative in the year||-5.8%|
|Cumulative in 12 months||2.8%|
|Quarterly Moving Average||0.4%|
The 0.7% advance in industry, from January to February 2022, had a widespread profile of positive rates, reaching all four major economic categories and 16 of the 26 surveyed sectors.
Among the activities, the most important positive influences came from mining and quarrying (5.3%) and food products (2.4%). Mining and quarrying industries resumed growth after falling 5.1% in the previous month due to the greater volume of rainfalls that hit Minas Gerais that month. Food products had the fourth consecutive month of increase in production, accumulating a gain of 14.0% in this period.
Other positive contributions were registered in pharmaceutical products (12.7%), motor vehicles, trailers and bodies (3.2%), basic metals (3.3%), beverages (4.1%), other transportation equipment (15.1%) and rubber and plastic products (2.9%).
On the other hand, among the ten activities that had a reduction in production, coke, petroleum products and biofuels (-1.8%) and pulp, paper and paper products (-3.4%) exerted the main impacts in February. The former eliminated part of the 3.1% growth registered in January. And the latter intensified the fall seen in the previous month (-1.8%).
|Indicators of Industrial Production by Major Economic Categories - Brazil - February 2022|
|Major Economic Categories||Change (%)|
|Cumulative January-February||Cumulative in the Last 12 Months|
|Semi- and Non-Durable||1.5||-4.9||-6.7||-1.3|
|Source: IBGE, Diretoria de Pesquisas, Coordenação de Estatísticas Conjunturais em Empresas *Seasonally-adjusted series
Among the major economic categories, capital goods (1.9%), intermediate goods (1.6%) and semi- and non-durable consumer goods (1.5%) had the strongest positive rates in February 2022. With these results, the first two returned to growth after falling -8.8% and -1.3%, respectively, in January. The last one marked the fourth consecutive month of growth in production, a period in which it accumulated a gain of 3.9%.
The sector producing durable consumer goods (0.5%) also increased this month, but below the industry average (0.7%). It is worth noting that this segment dropped 11.7% in January 2022 and eliminated part of the 18.6% expansion recorded in the last two months of 2021.
Quarterly moving average advances 0.4% in the quarter ended in February
In the seasonally adjusted series, the quarterly moving average for the total industry increased by 0.4% in the quarter ended in February 2022, compared to the level of the previous month, after increasing by 0.2% in January and 0.7 % in December 2021, when the downward trend begun in January 2021 was interrupted.
Among the major economic categories, semi- and non-durable consumer goods (1.2%) and intermediate goods (0.5%) had the positive results in this month. The former remained on an upward trend that started in November 2021. The second, on the other hand, returned to growth after zero change (0.0%) in the previous month.
The sectors producing capital goods (-1.3%) and durable consumer goods (-1.1%) registered declines in February, with the former marking the second consecutive month of decline and accumulating in this period loss of 2.9%. Durable consumer goods interrupted the upward trajectory started in October 2021.
Compared to February 2021, all categories had a negative result
In comparison with the same month of 2021, the industrial sector retreated 4.3% in February 2022, with negative results in all four major economic categories, 18 of the 26 branches, 52 of the 79 groups and 63.5% of the 805 products researched. It is worth mentioning that February 2022 had 19 working days, one more than the same month of the previous year.
Among the activities, the main negative influences came from motor vehicles, trailers and bodies (-10.7%), metal products (-16.1%), rubber and plastic material products (-14.1%) and other chemical products (-7.7%). Other negative impacts came from the branches of electrical machinery, equipment and materials (-15.8%), wearing apparel and accessories (-19.7%), textiles (-19.7%), furniture (-28.3%), leather, travel goods and footwear (-19.2%), basic metals (-4.2%), machinery and equipment (-4.3%), pulp, paper and paper products (-5.8%) and computer equipment, electronic and optical products (-9.8%).
On the other hand, among the eight activities that grew, coke, petroleum products and biofuels (6.9%), food products (3.4%) and other transportation equipment (41.7%) had the greatest influence on the industry average.
Among the major economic categories, durable consumer goods (-17.6%) had the sharpest drop. The sectors producing capital goods (-5.0%), semi- and non-durable consumer goods (-4.9%) and intermediate goods (-2.6%) also showed negative results in this month, with the first two showing more intense declines and the last one with the most moderate reduction among the economic categories.
All four major economic categories accumulate declines in the year
In the year (January-February), compared to the same period of the previous year, the industry had a fall of 5.8%, with negative results in all four major economic categories, in 19 of the 26 branches, in 54 of the 79 groups and in 65.8% of the 805 products surveyed.
Among the activities, the main negative influences were registered by motor vehicles, trailers and bodies (-17.0%), rubber and plastic products (-16.5%) and metal products (-18.5%). Other negative contributions came from electrical machines, appliances and material (-17.7%), textiles (-23.2%), wearing apparel and accessories (-20.9%), furniture (- 30.7%), mining and quarrying (-3.2%), other chemical products (-5.7%), leather, travel goods and footwear (-20.9%), basic metals (-5 .5%), beverages (-6.7%), pharmaceutical products (-11.0%), non-metallic mineral products (-5.3%) and machinery and equipment (-3 .7%).
Among the six activities that advanced in the two-month period, coke, petroleum products and biofuels (8.5%) had the greatest influence on the result of the industry. Other important positive impacts were registered by food products (1.7%) and other transport equipment (26.1%).
Among the major economic categories, there was less dynamism in durable consumer goods (-21.6%). The segments of semi- and non-durable consumer goods (-6.7%), capital goods (-6.5%) and intermediate goods (-3.8%) also had negative results in the first two months of the year, with the first two declines being more intense than the industry average (-5.8%) and the last one with a more moderate reduction.