In December 2023, the national industrial production grew 1.1% compared to November, in the seasonally adjusted series. In relation to December 2022, the industry advanced 1.0%, after four months of growth in this comparison: November (0.7%), October (0.2%), September (0.2%) and August (0 .4%) of 2023. The quarterly moving average in December was 0.7%. In 2023, the industry accumulated a change of 0.2%, after accumulating a drop of 0.7% in 2022. In the fourth quarter of 2023, compared to the same period of the previous year, the industry accumulated an increase of 1.1%.

By advancing 1.1% in December 2023, compared to the previous month, in the seasonally adjusted series, the industrial sector marked the fifth consecutive month of growth in production, a period in which it accumulated expansion of 2.5%. In this month's results, there is widespread positive behavior, as three of the four major economic categories and 14 of the 25 industrial activities surveyed experienced growth.

With these recent results, industrial production exceeds the pre-pandemic level (0.7% above February 2020); but is still 16.3% below the record level reached in May 2011. Still in the seasonally adjusted series, in the quarterly moving average index, with the gain in pace seen in recent months, the industry total, in December 2023, intensified the upward trajectory that began in February 2023.

Food products accumulate an increase of 9.1% in six consecutive months of expansion

Among the activities, the most important positive influences came from mining and quarrying industries (2.2%), food products (2.1%) and manufacturing of wearing apparel and accessories (14.5%). Mining and quarrying industries recorded the second consecutive month of increase in production, a period in which they accumulated gains of 5.9%. Food Products accumulates expansion of 9.1% in six consecutive months of growth. And manufacturing of apparel items and accessories eliminated the 1.3% decline seen in the previous month.

Other relevant positive contributions to the industry's total came from computer equipment, electronic and optical products (10.4%), motor vehicles, trailers and bodies (2.4%), fabricated metal products (3.1%), other transportation equipment (5.7%), electrical machines, apparatus and materials (3.2%) and miscellaneous products (6.1%).

On the other hand, among the ten activities that showed a reduction in production, coke, petroleum products and biofuels (-2.6%) and chemical products (-5.1%) exerted the main impacts in December 2023, with both eliminating the advances recorded in the previous month: 0.6% and 0.1%, respectively. It is also worth highlighting the declines recorded by the sectors of maintenance, repair and installation of machinery and equipment (-8.2%) and beverages (-2.2%).

Among the major economic categories, still compared to the previous month, durable consumer goods recorded the biggest increase (6.3%) in December 2023 and interrupted three consecutive months of decline in production, a period in which it accumulated a loss of 8.9%.

The segments of intermediate goods (1.3%) and semi- and non-durable consumer goods (0.1%) also recorded positive rates this month, with the first recording an expansion of 4.7% in four consecutive months of growth in production; and the last one marking the second consecutive month of growth, a period in which it accumulated a gain of 0.3%.

On the other hand, the capital goods producing sector (-1.2%) recorded the only negative result in December 2023 and marked the fourth consecutive month of decline in production, a period in which it accumulated a decline of 5.8%.

Moving average changes 0.7% in December 2023

Still in the seasonally adjusted series, the quarterly moving average index for the total industry grew 0.7% in the quarter ended in December 2023 compared to the level of the previous month, remaining, with the upward trajectory starting in February 2023.

Among the major economic categories, still in relation to the movement of this index at the margin, intermediate goods (1.3%) and durable consumer goods (0.4%) recorded positive results this month, with the former maintaining the upward trend it began. in August 2023; and the second returning to growth after showing a drop of 3.1% in the previous month.

The sector producing semi- and non-durable consumer goods showed zero change (0.0%) in December 2023, after recording a loss of 0.6% last November. On the other hand, the capital goods segment, with a drop of 1.2%, recorded the only negative result that month and remained on the predominantly downward trajectory that began in March 2023.

Industry advanced 1% compared to December 2022

Compared to December 2022, the industry grew 1% in December 2023, with positive results in one of the four major economic categories, 12 of the 25 branches, 32 of the 80 groups and 44.6% of the 789 products surveyed. It is worth mentioning that December 2023 (20 days) had two fewer working days than the same month in the previous year (22).

Among the activities, the main positive influences came from the mining and quarrying industries (17.0%) and coke, petroleum products and biofuels (7.8%).

It is also worth highlighting the positive contributions of the sectors of beverages (3.8%), food products (0.8%), other transportation equipment (10.4%), manufacturing of wearing apparel and accessories (6.4%), wood products (9.2%) and rubber and plastic products (2.3%).

On the other hand, still in comparison with December 2022, among the twelve falling activities, the most intense influences came from pharmaceutical products (-35.9%), motor vehicles, trailers and bodies (-11.2%), chemical products (-7.8%) and machinery and equipment (-10.1%).

Other important negative impacts were recorded by computer equipment, electronic and optical products (-12.7%), maintenance, repair and installation of machines and equipment (-10.9%), printing and reproduction of recorded media (-21.0 %), electrical machines, apparatus and materials (-6.0%) and fabricated metal products (-3.7%).

Among the major economic categories, still in comparison with the same month of the previous year, intermediate goods (3.7%) marked, in December 2023, the only expansion among the major economic categories. On the other hand, the sectors producing semi- and non-durable consumer goods (-0.3%), durable consumer goods (-0.9%) and commercial goodsand capital (-15.9%) recorded negative rates this month.

In the last quarter of the year, industry increased 1.1%

In the fourth quarter of 2023, the industrial sector, by increasing 1.1%, showed the first positive result since the fourth quarter of 2022 (0.6%) and continued on the upward trend initiated in the first quarter of 2023 (-0. 4%), all comparisons against the same period in the previous year.

Three of the four economic categories also registered a gain in dynamism in the transition from the third (0.0%) to the fourth quarter of 2023 (1.1%), with emphasis on intermediate goods, which went from 0.3% to 2.3 %, largely driven by the increase observed in mining and quarrying industries (6.4% to 10.0%).

The other gains in pace were recorded by semi- and non-durable consumer goods (from 2.1% to 2.7%) and capital goods (from -13.7% to -13.4%). On the other hand, the sector producing durable consumer goods, changing from -1.1% to -4.4%, was the only one to show a loss of dynamism between the two periods.

Industry closes 2023 with a positive variation of 0.2% compared to 2022

In the cumulative index for the year, compared to the same period of the previous year, the industry registered a positive change of 0.2%, with positive results in three of the four major economic categories, nine of the 25 sectors, 30 of the 80 groups and 40.3% of the 789 products surveyed.

Among the activities, the main positive influences on the total industry were recorded by mining and quarrying industries (7.0%), coke, petroleum products and biofuels (6.1%) and food products (3.7%).

On the other hand, still in the cumulative index of the year, among the 16 declining activities, the most intense influences came from motor vehicles, trailers and bodies (-7.1%), chemical products (-5.9%), machinery and equipment (-7.2%), electrical machines, apparatus and materials (-10.1%) and computer equipment, electronic and optical products (-11.0%).

Among the major economic categories, the profile of results for the 12 months of 2023 showed greater dynamism for semi- and non-durable consumer goods (2.1%) and durable consumer goods (1.2%). Intermediate goods (0.4%) also recorded a positive result in the cumulative index in the year. On the other hand, the capital goods segment (-11.1%) recorded the only negative rate in the cumulative indicator for the period January-December 2023.