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In March, industry decreases 2.4%

May 05, 2021 09h00 AM | Last Updated: May 06, 2021 03h39 PM

In March 2021, industrial production fell 2.4% compared to February, in the seasonally adjusted series. Compared to March 2020, the industry increased 10.5%, the seventh consecutive positive rate in this comparison and the highest since June 2010 (11.2%). The industry accumulated an increase of 4.4% in the first quarter of 2021, intensifying the pace of growth compared to the last quarter of 2020 (3.4%). The cumulative index in twelve months (-3.1%) had the least intense decrease since April 2020 (-2.9%).

March 2021/ February 2021 -2.4%
March 2021/ March 2020 10.5%
Quarterly Moving Average -1.0%
Cumulative in the year 4.4%
Cumulative in 12 months -3.1%

The industry's 2.4% decline in March 2021 was widespread, reaching three of the four major economic categories and 15 of the 26 surveyed sectors. .

Indicators of Industrial Production by Major Economic Categories
Brazil - March 2021
Major Economic Categories Change (%)
March 2021/   February 2021* March 2021/ March 2020 Cumulative  January-March Cumulative in the last 12 months
Capital Goods -6.9 29.6 20.4 -4.8
Intermediate Goods 0.2 9.9 4.5 0.0
Consumer Goods -11.0 7.5 0.9 -7.9
Durable -7.8 12.0 -0.3 -18.6
Semi- and Non-Durable -10.2 6.2 1.2 -5.0
General Industry -2.4 10.5 4.4 -3.1
 Source: IBGE, Diretoria de Pesquisas, Coordenação de Indústria
*Seasonally-adjusted series

Production of motor vehicles falls 8.4%

Among the activities, the major negative influence came from Motor Vehicles, trailers and semi-trailers (-8.4%) - third negative result in a row in this comparison, accumulating a 15.8% loss in the period. This recent negative behavior interrupted eight months of consecutive positive rates, which accumulated expansion of 1,196.9%

The other important negative influences include: wearing apparel and accessories (-14.1%), Other Chemical Products (-4.3%), pharmaceutical products (-9.4%), leather, travel goods and footwear (-11.2%), rubber and plastic products (-4.5 %), beverages (-3.4%), furniture (-9.3%), textile products (-6.4%) and non-metallic mineral products (-2.5%).

On the other and, among the 11  activities that indicated production growth, the main positive impacts came from mining and quarrying industries (5.5%) other transportation equipment (35.0%) and coke, petroleum products and biofuels (1.7%). The first activity is back to growth after dropping 5.2% in the previous month, the second shows two months in a row of production expansion, accumulating a 44.2% gain, in this period; and the last one eliminates part of the 5.2% reduction recorded among October 2020 and February 2021.

Among the major economic categories,  the category of semi and non-durable consumer goods fell 10.2%, the greatest loss since April 2020 (-12.6%). The segments of durable consumer goods (-7.8%) and capital goods (-6.9%) also decreased in March, with the first one in its third decrease in a row and accumulating the reduction period of 12.4% and the second one, intensifying February 2021 drop (-3.7%).

On the other hand, the sector of intermediate goods (0.2%) had the only positive rate n March 2021, after recording advance also in the previous month (0.4%).

Quarterly Moving Average drops 1.0% in March 2021

In the seasonally adjusted series, the quarterly moving average of industry fell 1.0% in the quarter ended in March 2021 over the previous month, interrupting the predominantly upward trend started in June 2020.

Among the major economic categories, durable consumer goods (-4.2%) recorded the sharpest decrease and accelerated the drop recorded in the previous month (-1.5%), which had broken the sequence of positive results started in July 2020. The segments of semi- and non-durable consumer goods (-2.9%), of capital goods (-2.0%) and of intermediate goods (-0.1%) also dropped in March 2021, with the first one falling after nine months of growth, a periods when it accumulated a 22.8% gain and the two last ones interrupting their upward trend started in June 2020.

Industry grows 10.5% against March 2020

Compared with March 2020, the industrial sector expanded 10.5%, with highs in all four major economic categories, 20 out of the 26 sectors, 64 out of the 79 groups and 69.6% of the 805 products surveyed. March 2021 (23 days) had one more business day than the same month in the prior year (22).

Among the activities, the main influences in this indicator came from motor vehicles, trailers and semi-trailers (19.2%), machinery and equipment (27.5%) non-metallic mineral products (27.7%), metal products (24.5%), rubber products and plastic material (20.3%) and basic metals (10.9%).

The other important positive impacts were recorded by the manufacture of wearing apparel and accessories (36.0%), electrical machinery and apparatus (20.7%), of beverages (14.5%), of other chemicals (7.7%), textiles (29.9%), computer, electronic and optical products (17.0%), wood products (32.4%), leather traveling goods and footwear (27.0%) and furniture (35.8%).

On the other hand, of the six activities with drops, the sharpest negative influence came from coke, petroleum products and biofuels (-1.1%)

Among the major economic categories, capital goods (29.6%) registered the greatest increase in the comparison. It is the seventh consecutive positive rate in this kind of comparison and the sharpest one since December 2020 (35.3%). The sector of durable consumer goods grew 12.0%, after dropping in January (-3.8%) and February (-8.2%). Intermediate goods (9.9%) recorded the ninth  consecutive positive rate in this kind of comparison and the sharpest one since July 2010 (10.6%). The sector of semi- and non-durable consumer goods (6.2%) broke two months of decrease : January (-0.7%) and February (-1.6%) of 2021.

Three of the four economic categories accrue highs in 2021

Compared with the same period in the previous year, the cumulative index for the January-March period increased 4.4%, registering positive figures in three out of the four major economic categories, 20 out of the 26 sectors, 58 out of the 79 groups and 65.3% of the 805 products surveyed.

Among the activities, the main positive influences in this indicator were machinery and equipment  (21.3%), non-metallic mineral products (17.2%),  metal products (16.7%), rubber products and plastic material (12.6%) and basic metals (8.0%).

It is worth highlighting the positive influences of the sectors of other chemicals (6.9%), motor vehicles, trailers and semi-trailers (4.4%), electrical machinery and apparatus (13.2%), textiles (18.3%), wearing apparel and accessories (13.6%), pulp, paper and paper products (4.5%) , wood products (14.0%), furniture (14.7%) and leather, traveling goods and footwear (9.3%).

On the other hand, among the six activities with reduction in  production, the main influences were recorded by food products (-3.6%), coke, petroleum derivatives and biofuels (-2.9%), mining and quarrying industries (-2.1%).

Other relevant negative contributions came from other transportation equipment (-15.5%) and maintenance, repair and installation of machinery and equipment (-9.1%).

Among the economic categories, the greatest cumulative increase of the year was in capital goods (20.4%). The segments of intermediate goods (4.5%) and of semi-durable and non-durable consumer goods (1.2%) also recorded growth. The only drop cam from durable consumer goods (-0.3%).