The Monthly Indicator of Gross Fixed Capital Formation (GFCF), which are investments, pointed to a decrease of 1.6% in November compared to October 2021, in the seasonally adjusted series. With this result, the moving quarter ended in November fell by 2.1%. In relation to the same periods in 2020, in November there was an expansion of 5.8% and, in the moving quarter, there was a growth of 9.9%.
The indicator was released today (31) by the Institute of Applied Economic Research (Ipea).
In the result accumulated in the 12 months ended in November, investments increased by 21.1%. In the year, the accumulated high is 19.7%.
GFCF comprises machinery and equipment, civil construction and other fixed assets. The evolution of the indicator represents the increase in the productive capacity of the economy and the replacement of the depreciation of the fixed capital stock.
Apparent consumption of machinery and equipment dropped by 3.8% in November and ended the moving quarter with a drop of 4.5%. The production of machinery and equipment for the domestic market fell by 1.9% in November and imports dropped by 5.6% in the same period.
According to Ipea, imports also had a reduction of 1% in the moving quarter, while domestic production ended the same period with a drop of 2.5%. In the 12-month period, investment in machinery and equipment registered an increase of 27.9%.
Investments in civil construction, in turn, dropped 0.3% in November in the seasonally adjusted series. Even so, the sector closed the mobile quarter with an expansion of 2.4%.
“Compared to the year 2020, there was a general positive performance. The highlight was the machinery and equipment component, which increased to a level 11.2% higher than in November 2020. While the component of other fixed assets increased by 6.1%, civil construction grew by 5.1% . In the quarterly comparison, the results were also positive”, says Ipea.
