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Industrial output falls 0.6% in August

October 05, 2022 09h00 AM | Last Updated: October 06, 2022 02h07 PM

In the seasonally-adjusted series, the national industrial output fell 0.6% in August 2022 against July, offsetting the advance of 0.6% in the previous month. In the seasonally-unadjusted series, industry grew 2.8% over August 2021, after retreating in June (-0.4%) and July (-0.4%). Industry accumulates a drop of 1.3% in the year and of 2.7% in 12 months.

August 2022/ July 2022 -0.6%
August 2022/ August 2021 2.8%
Cumulative in the year -1.3%
Cumulative in 12 months -2.7%
Quarterly moving average -0.1%

In the drop of 0.6% in industry between July and August, two out of four major economic categories and eight out of 26 sectors surveyed reduced their production. With these results, the industrial sector was still 1.5% below the pre-pandemic period (February 2020) and 17.9% below the record level of May 2011.  

Among the activities, the major negative influences came from coke, petroleum products and biofuels (-4.2%), food products (-2.6%) and mining and quarrying industries (-3.6%). It is worth highlighting the retreat of 4.6% in the sector of textiles. 

Among 18 activities that expanded their output, motor vehicles, trailers and bodies (10.8%), machinery and equipment (12.4%) and  other chemicals (9.4%) exerted the major impacts in August 2022. Other relevant positive contributions came from pharmochemicals and pharmaceuticals (9.9%), computer, electronic and optical products (6.0%), other transportation equipment (8.9%), miscellaneous manufacturing (7.4%) and beverages (1.7%).

Industrial Output Indicators by Major Economic Category - Brazil - August 2022
Major Economic Categories Change (%)
August 2022 /July 2022* August 2022 /August 2021 Cumulative January-August Cumulative in the Last 12 Months
Capital Goods 5.2 4.0 -1.2 1.7
Intermediate Goods -1.4 2.1 -1.1 -2.2
Consumer Goods -1.0 4.0 -1.9 -5.1
  Durable 6.1 13.6 -7.2 -12.9
  Semi-durable and Non-durable -1.4 1.9 -0.6 -3.0
Overall Industry -0.6 2.8 -1.3 -2.7
Source: IBGE, Diretoria de Pesquisas, Coordenação de Estatísticas Conjunturais em Empresas      
*Seasonally-adjusted series

Among the major economic categories, semi and non-durable consumer goods (-1.4%) and intermediate goods (-1.4%) reported negative rates over July, both of them offsetting part of the advance of the previous month: 1.5% and 1.8%, respectively. On the other hand, the sectors of durable consumer goods (6.1%) and of capital goods (5.2%) rose, the former growing once again after retreating 6.7% in July and the latter interrupting two consecutive months of drops, a period in which it accumulated a loss of 5.2%. 

Quarterly moving average changes -0.1%% in quarter ended in August

Still concerning the seasonally-adjusted series, the evolution of the quarterly moving average index for the overall industry pointed to a negative change of 0.1% in the quarter ended in August 2022 against the level of the previous month, thus interrupting the upward trend started in March 2022.  

Among the major economic categories, semi and non-durable consumer goods (-0.3%), capital goods (-0.1%) and intermediate goods (-0.1%) registered the negative figures this month, the first one interrupting two consecutive months of growth, a period in which it accumulated an expansion of 1.0%, and the two last ones reversing the advances in the previous months: 0.3% and 0.1%, respectively. On the other hand, the sector of durable consumer goods grew 1.7% in August 2022 and maintained the upward trend started in March 2022.

Industry advances 2.8% over August 2021

Compared with August 2021, the industrial sector advanced 2.8% in August 2022, with positive figures in the four major economic categories, 15 out of 26 sectors, 41 out of 79 groups and 48.0% of the 805 products surveyed. It is worth mentioning that August 2022 (23 days) had one more business day than the same month in the prior year (22).  

Among the activities, the major positive influences came from motor vehicles, trailers and bodies (19.3%), other chemicals (10.6%), coke, petroleum products and biofuels (5.0%) and food products (3.2%). It is also worth highlighting the positive contributions of the sectors of pulp, paper and paper products (9.3%), beverages (8.9%), pharmochemicals and pharmaceuticals (9.7%), other transportation equipment (17.4%), computer, electronic and optical products (7.5%), leather, travel articles and footwear (9.0%) and miscellaneous manufacturing (9.8%).  

Among 11 dropping activities, mining and quarrying industries  (-7.3%) exerted the most intense influence in relation to August 2021, pressed by the smaller production of iron ore and crude petroleum oil. Other important negative impacts came from basic metals (-4.1%), fabricated metal products (-6.9%), wood products (-13.8%), textiles (-10.4%), furniture (-13.8%) and electrical machines, appliances and material (-4.8%). 

Among the major economic categories, durable consumer goods (13.6%) recorded the steepest expansion compared with the same month a year ago. The sectors producing capital goods (4.0%), intermediate goods (2.1%) and semi and non-durable consumer goods (1.9%) also reported positive figures this month, the first one reporting a more intense growth than that noticed in the industry average (2.8%), and the last two ones recording a more moderate advance. 

The sector of durable consumer goods advanced 13.6%, the third consecutive positive figure in this comparison. That sector was leveraged by the rise in the manufacture of cars (39.9%). It is also worth mentioning the advances in brown goods (16.3%) and motorcycles (18.4%). Conversely, the negative impacts came from the reduced production of white goods (-19.1%) and from the groups of other household appliances (-15.8%) and furniture (-19.1%). 

The output of capital goods grew 4.0%, interrupting two months of drops. That segment was influenced by the expansion in the group of capital goods for transportation equipment (15.7%). The other positive results were in the groups of capital goods for construction (22.8%), for electricity (19.5%) and for mixed use (2.1%). The negative impacts came from capital goods for agriculture (-6.0%) and for industrial use (-1.6%). 

The segment of intermediate goods rose 2.1%, stepping up the advance of 0.3% registered in July. The result of this month was explained by the advances in the activities of coke, petroleum products and biofuels (9.3%), motor vehicles, trailers and bodies (18.7%), other chemicals (10.7%), pulp, paper and paper products (10.9%), food products (4.3%), machinery and equipment (6.0%) and rubber products and plastic material (2.3%), whereas the negative pressures were recorded by mining and quarrying industries (-7.3%), basic metals (-4.1%), fabricated metal products (-7.0%), textiles (-7.6%) and non-metallic mineral products (-2.4%). 

Still in this economic category, it is worth mentioning the results of typical inputs for civil construction (-4.3%), which reported the 12th consecutive retreat in this type of comparison; and of packaging (0.0%), which repeated the level of the previous month after advancing 2.2% in July. 

The sector producing semi and non-durable consumer goods grew 1.9% in August 2022 over the same period in 2021, the fifth consecutive positive figure in this type of comparison. The positive performance this month was explained by the advances in the groups of non-durable (5.7%) and food and beverages for domestic consumption (2.2%). It is also worth mentioning the positive figure of the group of  semi-durable (1.1%). On the other hand, the group of fuels (-3.6%) retreated, pressed by the smaller manufacture of ethyl alcohol. 

All the major economic categories accrue drops in the year

In the cumulative index in the year over the same period of the previous year, the industrial sector dropped 1.3%, with negative figures in four out of four major economic categories, 17 out of 26 sectors, 57 out of 79 groups and 60.5% of the 805 products surveyed. 

Among the activities, the major negative influences on the overall industry were registered by mining and quarrying industries (-3.8%), fabricated metal products (-11.1%), basic metals (-5.3%), electrical machines, appliances and material (-12.1%) and rubber and plastic products (-7.2%). It should also highlight the negative contributions registered by the sectors of textiles (-13.4%), furniture (-18.5%), non-metallic mineral products (-4.7%), pharmochemicals and pharmaceuticals (-6.4%), manufacture of wearing apparel and accessories (-7.4%), motor vehicles, trailers and bodies (-1.6%) and machinery and equipment (-2.3%).  

Among the nine rising activities, that of coke, petroleum products and biofuels (9.4%) exerted the greatest influence. Other important positive impacts were recorded by the sectors of beverages (4.8%), other chemicals (2.3%), food products (0.8%) and pulp, paper and paper products (3.1%). 

Among the major economic categories, the profile of the results for the first eight months of 2022 was less dynamic for durable consumer goods (-7.2%), pressed by the reduction in the manufacture of white goods (-20.0%) and brown goods (-9.3%). The segments of capital goods (-1.2%), intermediate goods (-1.1%) and semi and non-durable consumer goods (-0.6%) also declined in the year, though all of them below the industry average (-1.3%).