In the seasonally-adjusted series, the national industrial output changed 0.3% in March 2022 against February. In this comparison, three out of four major economic categories and 14 out of 26 sectors surveyed rose.

It dropped 2.1% in relation to March 2021, the eighth consecutive negative rate in this comparison. The industry retreated 4.5% in the cumulative index in the year against the same indicator in 2021. The cumulative rate over the last 12 months hit 1.8% in March and it has been reducing its growth intensity since August 2021 (7.2%).

Among the activities, the most important positive influences were registered by motor vehicles, trailers and bodies (6.9%),  other chemicals (7.8%), beverages (6.4%), machinery and equipment (4.9%), the first three ones stepping up the advance noticed in the previous month: 4.3%, 0.6% and 6.1%, respectively; and the last one resuming its growth after three consecutive months of drops in the output, a period in which it accumulated a loss of 3.6%. Other relevant positive contributions came from computer equipment, electronic and optical products (7.9%), leather, travel articles and footwear (8.9%) and mining and quarrying industries  (0.9%).

Among the 12 activities that dropped, food products (-1.7%), coke, petroleum products and biofuels (-2.1%) and pharm-chemicals and pharmaceuticals (-8.4%) exerted the major impacts in March 2022, the first one interrupting four consecutive months of rise, a period in which it accumulated an expansion of 14.9%; the second one recording the second negative rate in a row and accumulating a loss of 5.0%; and the last one offsetting part of the advance of 12,5% reported in February 2022. It is also worth highlighting the retreat registered in the sectors of fabricated metal products (-3.6%) and electrical machines, appliances and material (-4.9%).

Among the major economic categories, capital goods (8.0%) and durable consumer goods (2.5%) recorded the steepest positive rates in March 2022, both of them stepping up the advances reported last February: 2.5% and 1.4%, respectively. The sector producing intermediate goods (0.6%) also grew this month, though below that reported in the previous month (1.8%). On the other hand, the segment of semi and non-durable consumer goods (-3.3%) registered the only negative rate in March 2022, interrupting three consecutive months of advances in the output, a period in which it accumulated a rise of 4.3%.

Quarterly moving average stays at -0.4% in quarter ended in March

Still concerning the seasonally-adjusted series, the evolution of the quarterly moving average index for the overall industry pointed to a negative change of 0.4% in the quarter ended in March 2022 against the level of the previous month, thus interrupting the upward trend started in November 2021.

Concerning the marginal movement of this index among the major economic categories, durable consumer goods (-2.9%) and semi and non-durable consumer goods (-0.4%) recorded the negative figures this month.

In contrast, the segment of intermediate goods (0.3%) recorded the only positive rate in March 2022, maintaining the upward trend started in November last year. Having repeated the level of the previous month, the sector of capital goods (0.0%) interrupted two consecutive months of drops, a period in which it accumulated a loss of 2.6%.

Industry retreated 2.1% over March 2021

Compared with the same month a year ago, the industrial sector retreated 2.1% in March 2022, with negative figures in three out of four major economic categories, 17 out of 26 sectors, 55 out of 79 groups and 60.1% of the 805 products surveyed. It is worth mentioning that March 2022 (22 days) had one more business day than the same month in the prior year (23).

Among the activities, the major negative influences on the overall industry were registered by rubber and plastic products (-14.5%), fabricated metal products (-15.9%) and electrical machines, appliances and material (-20.8%).

It is also worth highlighting the negative contributions from textiles (-17.7%), furniture
 (-22.7%), pharm-chemicals and pharmaceuticals (-9.9%), printing and reproduction of recorded media (-28.9%), manufacture of wearing apparel and accessories (-9.2%), toiletries, soaps, cleaning and personal hygiene products (-10.1%), miscellaneous manufacturing (-12.9%), non-metallic mineral products (-3.8%) and basic metals (-2.4%).

Among the nine activities that expanded the production, still comparing with March 2021, other chemicals (8.0%) and beverages (12.0%) exerted the major influences on the industry average. Other important positive impacts were recorded by motor vehicles, trailers and bodies (2.5%), food products (1.5%), coke, petroleum products and biofuels (1.4%), tobacco products (17.9%) and mining and quarrying industries (1.0%).

Among the major economic categories, still comparing with the same month a year ago, durable consumer goods (-12.8%) reported the sharpest drop among the major economic categories in March 2022. The sectors producing intermediate goods (-2.2%) and semi and non-durable consumer goods (-1.2%) also reported negative figures this month, the former registered a more intense retreat than that noticed in the industry average (-2.1%), and the latter recording a more moderate reduction. Having advanced 4.4% in March 2022, the segment of capital goods registered the only positive rate among the major economic categories.

The sector producing durable consumer goods retreated 12.8% in March 2022 over the same period a year ago, the ninth consecutive negative figure in this type of comparison. The production of intermediate goods fell 2.2% in the monthly index of March 2022, the eighth consecutive negative rate in this type of comparison.

The segment of semi and non-durable consumer goods retreated 1.2% in March 2022, the ninth consecutive negative rate in this type of comparison, while the sector producing capital goods advanced 4.4% in March 2022 over the same period last year, after recording negative figures in January (-8.5%) and February (-4.7%).

Retreat of 4.5% in the cumulative index in the year, with all major economic categories dropping

The industrial sector dropped 4.5%, with negative figures in four out of four major economic categories, 22 out of 26 sectors, 56 out of 79 groups and 65.6 of the 805 products surveyed. Among the activities, the major negative influences on the overall industry were registered by motor vehicles, trailers and bodies (-10.2%), rubber and plastic products (-16.3%), fabricated metal products (-16.2%) and electrical machines, appliances and material (-18.6%).

It is also worth highlighting the negative contributions registered by the sectors of textiles (-21.4%), furniture (-28.4%), manufacture of wearing apparel and accessories (-16.5%), basic metals (-4.6%), pharm-chemicals and pharmaceuticals (-10.7%), leather, travel articles and footwear (-14.0%), non-metallic mineral products (-5.3%), mining and quarrying industries (-1.7%),  machinery and equipment (-2.9%), toiletries, soaps, cleaning and personal hygiene products (-10.2%) and computer equipment, electronic and optical products (-5.5%).

Still comparing with January-March 2021, among the four activities that expanded the output, the major influences on the industry average were registered by coke, petroleum products and biofuels (5.4%) and food products (2.4%).

Among the major economic categories, durable consumer goods
 (-18.3%), semi and non-durable consumer goods (-4.4%), intermediate goods (-3.4%), and capital goods (-2.6%) dropped, though the last three ones recorded less intense retreats than the industry average (-4.5%).