Brazilian industrial production rose 0.6% in July, after falling 0.3% in June this year. As a result, the sector is still 0.8% below the pre-pandemic level of covid-19, in February 2020, and 17.3% below the record level reached in May 2011. In the annual comparison, the drop was of 0.5% and the accumulated loss for the year is 2%. In 12 months, the industry accumulates retraction of 3%.
Data from the Monthly Industrial Survey (PIM) were released today (2) by the Brazilian Institute of Geography and Statistics (IBGE). According to the Research manager, André Macedo, despite the accumulated loss in the year, it is possible to observe an improvement over the period.
“The industrial sector throughout 2022 has been showing a greater frequency of positive results. There are five months of growth in seven opportunities. In these results, the influence of governmental stimulus measures can be observed, which help to explain the improvement registered in the rhythm of production. But it is worth noting that even so, industrial production has not recovered the losses of the past”.
Activities
In July, 16 surveyed activities had a fall and ten others registered an increase. The biggest positive influence came from the food products sector, with an increase of 4.3%. Macedo points out that it was the third consecutive month of progress in this industrial activity, which accumulated a gain of 7.3%.
“This growth was widespread among the main items of this activity. From sugar, which has a significant increase for this couple of months, to beef, pork and poultry, in addition to dairy products and soy derivatives”.
The coke, petroleum products and biofuels industries also grew, up 2% in July after falling 1.3% in the previous month; and extractive industries, which rose 2.1%, accumulating expansion of 5% in two months.
The main declines occurred in machinery and equipment, which fell 10.4% in July and 3.8% in June; other chemical products had a reduction of 9% and accumulated a loss of 17.3% in three months; and motor vehicles, trailers and bodies registered -5.7%, a result that eliminates part of the 10% growth accumulated in May and June 2022.
economic categories
Among the four major economic categories, two advanced from June to July. The biggest increase came from intermediate goods (2.2%), which, as a result, eliminated the loss accumulated in the two previous months. Semi and non-durable consumer goods rose 1.6%, after falling 0.9% in June.
The drops came from the producers of durable consumer goods (-7.8%), interrupting two consecutive months in which they accumulated a high of 10.2%; and capital goods (-3.7%), intensifying the fall of 1.9% registered in June.
According to Macedo, the industry’s negative balance was due to restrictions in the supply of inputs and electronic components for the production of the final good, in addition to the economic scenario that represses domestic demand and the worsening of the conditions of jobs generated in the labor market.
“The interest and inflation are at higher levels. This increases credit costs, reduces disposable income for families and causes default rates to remain at higher levels. Even with the reduction in unemployment rates in recent months, there is still a high number of workers outside this labor market and a worsening in the employment conditions that are generated”.
annual comparison
In comparison with July 2021, the main negative influence was in the activity of other chemical products, which fell by 9.9%, pressured by the lower production of fertilizers or fertilizers, fungicides for use in agriculture, paints and varnishes for construction, urea and polyethylene of high and low density.
According to the IBGE, machinery and equipment activities (-9.3%), mining and quarrying (-3.8%), pharmochemical and pharmaceutical products (-13%) and metal products (-9 ,two%).
Among the branches of industry, non-metallic mineral products (-4.8%), wood products (-13.3%), computer equipment, electronic and optical products (-7.7%) contributed negatively to the index. ), metallurgy (-2.7%), furniture (-14.8%), textile products (-10%), electrical machinery, equipment and materials (-4.7%) and the branch of maintenance, repair and installation of machines and equipment (-10.1%).
Ten activities registered expansion, with the main influences being the segments of coke, petroleum products and biofuels (8.6%), with the increase in the production of fuel oils, diesel oil, naphtha for petrochemicals, automotive gasoline and aviation kerosene ; and food products (4.3%), with the highest production of crystal sugar, cookies and crackers, frozen, fresh or refrigerated beef, pies, bagasse, bran and other residues from soybean oil extraction and frozen pork meat .
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