In the seasonally-adjusted series, the national industrial output changed -0.2% in February 2023 over January. It was the third negative figure in a row, accumulating a drop of 0.6% in this period.

In the seasonally-unadjusted series, it retreated 2.4% against February 2022. As a result, the cumulative index in the year hit -1.1% and the cumulative indicator over the last 12 months hit -0.2%.

Two out of four major economic categories and nine out of 25 sectors surveyed reduced their production. Among the activities, the most important negative influences came from food products (-1.1%), chemicals (-1.8%) and pharmaceuticals (-4.5%), the first one registering the second consecutive month of retreat in the output, a period in which it accumulated a reduction of 3.8%; the second one stepping up the drops recorded in December 2022 (-0.7%) and in January 2023 (-1.5%); and the last one accumulating a loss of 16.9% in 2023. Other relevant negative contributions came from electrical machines, appliances and material (-3.5%) and fabricated metal products (-1.4%).

Among 16 activities that rose their output, mining and quarrying industries (4.6%) exerted the major impact in February 2023 and stepped up the expansion of 3.4% reported last January, when it interrupted two consecutive months of drop in the production, a period in which it accumulated a reduction of 8.0%. It is worth highlighting the advances in  beverages (3.6%), coke, petroleum products and biofuels (0.5%), printing and reproduction of recorded media (11.2%), miscellaneous manufacturing (4.0%), basic metals (0.8%) and computer, electronic and optical products (2.0%).

Among the major economic categories, also in comparison with the immediately previous month, durable consumer goods registered the steepest negative rate in February 2023 by retreating 1.4%, thus stepping up the loss of 1.2% recorded last January.

The segment of semi and non-durable consumer goods (-0.1%) also reduced its output, interrupting four consecutive months of growth, a period in which it accumulated a rise of 2.4%.

In contrast, the sectors of capital goods (0.1%) and of intermediate goods (0.5%) advanced in February 2023, both of them interrupting two consecutive months of drops in the output, a period in which they accumulated a loss of 6.0% and 1.5%, respectively.

Quarterly moving average changes -0.2% in quarter ended in February

Still in the seasonally-adjusted series, the quarterly moving average for the whole industry had a negative change of 0.2% in the quarter ended in February 2023 against the previous month, after recording -0.1% last January.

Among the major economic categories, capital goods (-2.0%) reported the sharpest negative rate in February 2023, remaining in an downward trend since May 2022. The sectors of intermediate goods (-0.4%) and of durable consumer goods (-0.1%) also retreated this month, with the former registering the second consecutive month of drop and accumulating a reduction of 0.7% in this period; and the latter interrupting two consecutive months of advances in the output, a period in which it accumulated a gain of 1.9%.

The only positive figure came from semi and non-durable consumer goods (0.7%), a sector that maintained the upward trend started in November last year.

Industry declines 2.4% over February 2022

Compared with February 2022, the industrial sector fell 2.4% in February 2023, with negative figures in two out of four major economic categories, 17 out of 25 sectors, 57 out of 80 groups and 56.8% of the 789 products surveyed. It is worth mentioning that February 2023 had 18 business days, one business day less than February 2022 (19).

The major negative influences came from chemicals (-8.0%), food products (-3.8%), motor vehicles, trailers and bodies (-6.1%) and machinery and equipment (-9.0%).

Other important negative impacts came from non-metallic mineral products (-11.3%), electrical machines, appliances and material (-12.6%), basic metals (-4.8%), computer, electronic and optical products (-11.8%), wearing apparel and accessories (-10.9%), wood products (-17.1%), fabricated metal products (-4.9%) and miscellaneous manufacturing (-8.3%).

Among eight rising activities, that of mining and quarrying industries (5.1%) exerted the biggest influence on the industrial average, mainly leveraged by the bigger production of items iron ore and crude petroleum oil. It is worth highlighting the positive contributions registered by the sectors of beverages (8.2%), coke, petroleum products and biofuels (1.6%) and pharmaceuticals (6.7%).

Capital goods recorded the sharpest drop against February 2022

Among the major economic categories, still comparing with the same month a year ago, capital goods (-12.4%) recorded the steepest drop. The sector producing intermediate goods (-2.8%) also recorded a negative figure this month and with a more intense loss than that reported by the industry average (-2.4%).

On the other hand, the segments of semi and non-durable consumer goods (0.2%) and durable consumer goods (2.1%) registered the advances this month.

Capital goods registered the sixth consecutive negative rate in this comparison and the most intense since August 2020 (-14.5%). The segment was mainly influenced by the reduction observed in the groups of capital goods for industrial use (-17.2%) and for transportation equipment (-11.1%).  The other negative figures were registered by the groups of capital goods for electricity (-20.5%), for mixed use (-12.2%) and for agriculture (-11.9%). The only positive impact came from capital goods for construction (5.5%).

The production of intermediate goods stepped up the losses of January 2023 (-1.7%) and of December 2022 (-0.2%). The result of this month was mainly explained by the retreat in chemicals (-10.5%), non-metallic mineral products (-11.3%), motor vehicles, trailers and bodies (-9.6%), basic metals (-4.8%), food products (-3.7%), coke, petroleum products and biofuels (-1.8%), machinery and equipment (-8.2%), fabricated metal products (-3.9%) and textiles (-1.1%), whereas the positive pressures came from mining and quarrying industries (5.1%), pulp, paper and paper products (0.8%) and rubber and plastic products (0.3%).

Still in this economic category, it is worth mentioning the results of typical inputs for civil construction (-4.7%), which reported the 18th consecutive retreat in this type of comparison; and of packaging (0.6%), which recorded the third advance in a row.

The segment of semi and non-durable consumer goods reported the third consecutive positive rate in this type of comparison, though the less intense in the sequence: 4.6% in January 2023 and 1.5% in December 2022. The positive performance this month was mainly explained by the expansion observed in the groups of fuels (12.8%) and non-durable (4.2%).

In contrast, the groups of semi-durable (-7.3%), food and beverages for domestic consumption (-1.3%) and basic food and beverages for domestic consumption (-5.7%) registered the negative impacts in this category.

The sector producing durable consumer goods had already grown 13.9% last January. In February, it was leveraged by the expansion in the manufacture of cars (2.6%) and of motorcycles (15.5%). It is also worth mentioning the advances in the groups of brown goods (3.2%) and of other household appliances (23.5%). The negative impacts came from white goods (-2.0%) and furniture (-1.5%).

Cumulative index between January and February drops 1.1%

In the cumulative index for January-February 2023 against the same period a year ago, the industry declined 1.1%, with negative figures in two out of four major economic categories, 16 out of 25 sectors, 47 out of 80 groups and 52.3% of the 789 products surveyed.

Among the activities, the major negative influences on the whole industry were registered by chemicals (-5.3%), non-metallic mineral products (-10.9%), computer, electronic and optical products (-12.2%) and wood products (-19.3%).

It is also worth highlighting the negative contributions recorded by the sectors of electrical machines, appliances and material (-9.2%), basic metals (-4.1%), machinery and equipment (-5.1%), wearing apparel and accessories (-9.8%), motor vehicles, trailers and bodies (-2.3%) and fabricated metal products (-3.3%).

Among nine activities that expanded the production, mining and quarrying industries (3.5%) and pharmaceuticals (18.1%) exerted the major influences on the industry average. Other important positive impacts were registered by beverages (6.4%), other transportation equipment (10.8%) and rubber and plastic products (3.5%).

Among the major economic categories, the profile of the results for the first two months of 2023 showed less dynamism for capital goods (-9.7%). The sector producing intermediate goods (-2.2%) also recorded a negative figure in the first bimester of the year and with a more intense loss than that reported by the industry average (-1.1%).

On the other hand, the segments of semi and non-durable consumer goods (2.4%) and of durable consumer goods (7.6%) registered the advances in the cumulative indicator in the year.

Keywords: Produção industrial varia -0, 2% em fevereiro