In November 2023, the national industrial output increased by 0.5% from October, in the seasonally-adjusted series, after positive changes in October (0.1%), September (0.1%) and August 2023 (0.2%). Against November 2022, in the non-adjusted series, there was an increase of 1.3%, fourth consecutive positive rate.

The cumulative index in the year changed by 0.1% and that in the last 12 months recorded a null change (0.0%), having remained unchanged since May 2023 (0.0%).

Two of the four broad economic categories and 13 out of 25 industrial sectors surveyed had increase in output from October to November 2023. Among the activities, the main positive results were those in mining and quarrying industry (3.4%) and food products (2.8%), with the former increasing again after recording a negative change of 0.4% in the previous month; and the second one recording an increase in output for the fifth month in a row, a period marked by a cumulative gain of 6.3%.

Other relevant positive contributions to the overall industry overall came from coke, petroleum products and biofuels (0.6%), beverages (2.8%), non-metallic mineral products (2.3%) and basic metals (0.8%).

On the other hand, among the twelve activities surveyed with decrease in output, pharmaceuticals (-10.2%) and motor vehicles, trailers and bodies (-3.1%) accounted for the main impacts in November 2023, with both making up for the advances in the previous month: 3.5% and 1.0%, respectively.

Also worthy of mention are the decreases in computer, electronic and optical products (-6.5%), machinery and equipment (-2.8%), printing and reproduction of recorded media (-11.2%), manufacture of wearing apparel and accessories (-2.9%), electrical machines, appliances and material (-2.3%) and leather, travel articles and footwear (-2.7%).

Among the broad economic categories, also from the previous month, intermediate goods (1.6%) recorded the most significant increase in November 2023, after advancing in October (0.7%) and September (0.8%). Producers of semi and non-durable goods (0.2%) also recorded a positive rate in the month after two consecutive months of output decrease, when there was a cumulative drop of 1.9%.

The segments of capital goods (-1.7%) and semi and non-durable consumer goods (-3.3%) also reported negative figures in November 2023, both of them registering the third consecutive negative rate and with cumulative drops of 4.7% and 9.7% in this period, respectively.

Quarterly moving average changes by -0.2% in quarter ended in November

Also in the seasonally-adjusted series, the quarterly moving average index for the industry overall changed by 0.2% in the quarter ended November 2023 against the level in the previous month, after recording a null change (0.0%) in the months of September, August and July 2023.

Among the broad economic categories, also in the seasonally-adjusted series, intermediate goods recorded the only positive result and has been on an upward trend since August 2023. On the other hand, durable consumer goods (-3.4%) accounted for the main drop in November, after advancing by 0.2% a month ago. The segments of capital goods (-1.6%) and of semi-durable and non-durable consumer goods (-0.6%) also recorded negative results.

Industry output advances by 1.3% from November 2022

Against the same month in 2022, the industrial sector advanced by 1.3% in November 2023, with positive figures in two of the four broad economic categories, 10 of the 25 sectors, 32 of the 80 groups and 46.9% of the 789 products surveyed. It is worth mentioning that November 2023 (20 days) had the same number of business days as the same month a year before (20).

Among the activities, the main positive influences on the industry overall were reported by mining and quarrying industry (14.5%), coke, petroleum products and biofuels (11.6%) and food products (4.7%). It is also worth mentioning the positive contributions of the sectors: beverages (5.4%), textiles (9.6%) and wood products (10.6%).

On the other hand, also against November 2022, among the 15 activities recording drops, motor vehicles, trailers and bodies (-15.%), pharmaceuticals (-19.0%),computer equipment, electronic and optical products (-22.4%) and machinery and equipment (-10.2%) accounted for the main influences.

Other relevant negative impact came from basic metals (-6.1%), miscellaneous manufacturing (-16.4%), electrical machines, appliances and material (-8.7%), pulp, paper and paper products (-2.8%) and printing and reproduction of recorded media (-14.2%).

Semi and non-durable consumer goods and intermediate goods grow from 2022

Among the broad economic categories, also against the same month in 2022, semi and non-durable consumer goods (3.7%) and intermediate goods (2.6%) recorded increases, whereas durable consumer goods (-8.6%) and capital goods (-14.8%) recorded negative rates. 

The sector producing semi and non-durable consumer goods grew by 3.7% in November 2023 from the same period in 2022, the fourth consecutive positive figure in this type of comparison. The positive performance this month resulted from the advances in fuels (24.9%) and food and beverages for domestic consumption (3.6%). It is also worth mentioning the positive results recorded by the group food and beverages for domestic consumption (29.0%). On the other hand, non-durable goods (-6.7%) and semi-durable goods (-3,2%) accounted for negative impacts in this category.

The sector of intermediate goods advanced by 2.6% in November 2023 from the same period in 2022, the fourth positive rate in a row in this comparison and the most significant in the sequence. The month’s result was mainly due to the advances in mining and quarrying industry (14.5%), food products (7.4%), coke, petroleum products and biofuels (4.8%), textiles (11.5%) and rubber products and plastic material (2.4%).

On the other hand, negative results were recorded by motor vehicles, trailers and bodies (-20.0%), basic metals (-6.1%), chemicals (-3.2%), machinery and equipment (-5.5%), pulp, paper and paper products (-3.3%), fabricated metal products (-2.3%) and non-metallic mineral products (-0.7%). Also in this economic category, it is worth mentioning the results of typical inputs for civil construction (-0.2%), which recorded its 27th consecutive drop in this type of comparison; and of packaging (4.6%), which recorded the second consecutive advance in production.

Also against the same month a year ago, the segment of durable consumer goods dropped by 8.6% in November 2023, adding to the decreases observed in the months of October (-3.0%) and September (-3.0%). The sector was affected by the reduction in the manufacture of brown goods (-55.6%) and cars (-8.0%).

It is also worthy of mention the drop in the group of furniture (-0.9%) and the null change in production of motorcycles (0.0%). Conversely, negative impacts came from white goods (13.3%) and other household appliances (13.3%).

The sector of capital goods dropped by 14.8% in November 2023 against the same period in 2022, eighth consecutive negative rate in this comparison. That segment was influenced by the drop in capital goods for transportation equipment (-28.4%). The other negative results came from of capital goods for electricity (-33.4%), for industrial use (-6.1%), for mixed use (-17.1%), for construction (-25.5%) and for agriculture (-11.0%).

Cumulative index in the year changes by 0.1%

In the cumulative index for January-November 2023, against the same period a year before, the industrial sector changed by 0.1%, with positive figures in three out of four major economic categories, 10 of the 25 sectors, 30 of the 80 groups and 40.8% of the 789 products surveyed.

Among the activities, the main positive influences on the industry overall were those of coke, petroleum products and biofuels (6.0%) and food products (3.9%). Other important positive impacts were recorded by other transportation equipment (9.8%), pharmaceuticals (2.7%) and printing and reproduction of recorded media (10.4%).

On the other hand, also against January-November 2022, among the 15 drops, chemicals (-5.7%), motor vehicles, trailers and bodies (-6.8%), machinery and equipment (-7.0%), electrical machinery and apparatus (-10.5%), and computer equipment, electronic and optical products (-10.9%) accounted for the main contributions.

Also worthy of notice are the negative contributions from non-metallic mineral products (-6.6%), manufacture of wearing apparel and accessories (-7.8%), basic metals (-3.0%), miscellaneous manufacturing (-8.9%), metal products (-3.2%), wood products (-8.1%) and pulp, paper and paper products (-2.0%).

Among the broad economic categories, the cumulative index in the year gained momentum in terms of semi and non-durable goods (2.3%) and durable consumer goods (1.4%), driven by the increase in output of motor gasoline and ethyl alcohol, in the former category, and of household appliances (5.7%), motorcycles (10.4%) and cars (1.3%), in the latter. The cumulative index in the year for the sector of intermediate goods was positive (0.1%).

On the other hand, capital goods (-10.7%) accounted for the only cumulative negative rate in the year, due to drops in manufacture of capital goods for transportation equipment (-14.3%), for electricity (-29.0%) and for industrial purposes (-7.1%).