In January 2023, national industrial production changed by -0.35 from December, in the series adjusted series, after a null change (0.0%) in December 2022, after two consecutive months of increase, a period with a cumulative increase of 1.5%. From January 2022, in the non-adjusted series, industry changed by 0.3% in January 2023, after a drop of 0.4% in December 2022, with increases after two consecutive months: November (0.8%) and October (1.2%) 2022. The cumulative indicator in the last 12 months, having dropped 0.2% in January 2023, reduced the intensity of loss against what was observed in the months of December (-0.7%), November (-1.1%), October (-1.5%), September (-2.3%), August (-2.6%) and July (-2.8%) 2022.

In the negative change of 0.3% of industrial activity from December to January, three of the four major categories and 11 of the 25 sectors surveyed recorded reduction in production.

Among the activities, the main negative contributioons came from: pharmaceuticals (-13.0%), motor vehicles, trailers and bodies (-6.0%), food products (-2.1%) and coke, petroleum products and biofuels (-1.5%). Other negative results were those of: chemicals (-1.3%), metal products (-2.8%), electrical machines, appliances and material (-3.2%), computer equipment, electronic and optical products (-3.5%) and pulp, paper and paper products (-1.3%).

On the other hand, among the 14 activities recording increase, mining and quarrying industry, having advanced 1.8%, accounted for the main impact, and interrupted two consecutive months of decrease, a period marked by a drop of 7.7%. It is worth mentioning the advances registered in the fields of miscellaneous products (9.2%), rubber abd plastic material (1.6%) and non-metallic mineral products (2.1%).

Among the major economic categories, also in comparison with the immediately previous month, capital goods (-4.2%) recorded the main negative rate in January 2023, making more intense the drop of 1.6% of December 2022. The segments of durable consumer goods (-1.3%) and intermediate goods (-0.8%) also indicated decrease in production, with the former having eliminated part of the cumulative increase of 5.3% in the last two months of 2022 and the latter had the second month in a row with a cumulative loss of 1.5% in this period. On the other hand, the sector that produces semi-durable and non-durable cosumer goods (0.1%) recorded the only increase in January 2023, and remained so with the predominatly positive behavior initiated in October 2022, having recorded in this period an increase of 2.3%.

Quarterly moving average changes -0.1% in quarter ended January

Also in the seasonally-adjusted series, the quarterly moving average index for the industry overall changed by -0.1% in the quarter ended in January 2022 against the previous month, thus interrupting the upward trend initiated in October 2022.

Among the major economic categories, capital goods (-0.9%) and intermediate goods (-0.3%) recorded decreases this month. The former remainded on a downward trend initiated in May 2022; the latter interrupted two consecutive months of increase, a period with a cumulative increase of 1.4%.

On the contrary, producers of durable consumer goods (1.2%) and semi-durable and non-durable consumer goods (0.7%) recorded positive rates in January 2023, with both having the second consecutive months of increase in production and recording cumulative increases of 1.9% and 1.5%, respectively.

Industry advances 0.3% from January 2022

Against January 2022, the industrial sector advanced 0.3% in January 2023, with positive figures in two of the four major economic categories, 9 out of 25 sectors, 38 out of 80 groups and 47.1% of the 789 products surveyed. It is worth mentioning that Janaury 2023 (22 days) had one business day more than the same month in the previous year (21).

Among the activities, the main positive contributions came from food products (4.6%), pharmaceuticals (34.1%), mining and quarrying industry (2.0%) and other transportation equipment (27.0%). It is worth mentioning the positive contributions from rubber products and plastic material (5.6%), beverages (4.8%), motor vehicles, trailers, and bodies (2.2%) and furniture (9.2%).

Among the 16 activities with a decrease in production, non-metallic mineral products (-10.6%), wood products (-21.5%), coke, petroleum products and biofuels (-2.1%) and computer equipment, electronic and optical products (-12.6%) accounted for the main influences. Chemical products (-2.6%), basic metals (-3.4%), manufacture of wearing apparel and accessories (-8.5%), printing and reproduction of recorded media (-21.2%) and electrical machinery and apparatus (-5.5%).

Among the major economic categories, still against the same month in the previous year, durable consumer goods (13.9%) and semi and non-durable consumer goods (4.6%) recorded the main drops. Producers of intermediate goods (-1.7%) and capital goods (-6.6%) accounted for the main recordings in the month.

Producers of durable consumer goods advanced 13.9% from the same period a year ago, ater a decrease of 4.3% in the previous month, when it interrupted a series of four consecutive months of positive rates in this type of comparison. The result this month was the highest since June 2021 (31.7%). The result of the sector was driven by the increase in manufacture of cars (14.7%) and brown goods (26.1%). It is also worth mentioning the advances in white goods (6.9%), motorcycles (49.3%), and by other household appliances (9.0%) and furniture (7.7%).

The production of semi-durable and non-durable consumer goods increased by 4.6%, adding to the increase of 1.5% in December. The positive performance this month was explained by the advances in the groups of food and beverages for domestic consumption (5.0%) and non-durable goods (13.4%). It is also worth mentioning the positive result of fuels (3.0%), due to the increase in production of ethyl alcohol. On the other hand, the group of semi-durable goods (-5.7%) and food and beverages for domestic consumption (-5.1%) recorded drops.

The segment of intermediate goods dropped 1.7% in January 2023, adding to the nagative change of 0.2% in December. This month’s result was mainly a consequence of the drawbacks seen in the products associated with the activities of non-metallic mineral products (-10.6%), coke, petroleum products and biofuels (-3.8%), chemical products (-5.3%), basic metals (-3.4%), machinery and equipment (-8.5%), pulp, paper and paper products (-1.4%), metal products (-0.8%) and textiles (-1.5%). Positive contributions came from mining and quarrying industry (2.0%), rubber products and plastic material (4.3%), food products (1.2%) and motor vehicles, trailers and bodies (1.1%). Still in this same economic category, it is also worth mentioning the results of typical inputs for civil construction (-2.9%) and packaging (2.8%).

Producers of capital goods dropped 6.6%, against the same period a year ago, fifth negative rate in a row, and the highest since August 2020 (-14.5%). The segment was mainly influenced by the drop in capital goods for industrial use (-13.8%), driven by the decrease in production of non-serial capital goods (-58.2%) and serial capital goods (-3.1%). Capital goods for mixed use (-22.2%), for electricity (-2.9%) and for transportation equipment (-0.3%) accounted for the remaining negative results. Conversely, the positive impacts were registered by the groups of capital goods for for agriculture (17.2%) and for construction (0.6%).