Industrial activity slowed down in the month from November?? According to data from the Industrial Survey of the National Confederation of Industry (CNI), industrial production stood at 48.7 points in November, an increase of 0.2 points compared to the month of October?? According to the CNI, the slight increase in the index was not enough to change the scenario of decline in industrial production, which has been below the 50-point dividing line since September.
Industrial employment also fell in November 2022. The index dropped 0.6 points compared to October and ended the month at 49 points. The use of installed capacity (UCI) remained at 71% and is below the level practiced in the months from November of the past two years.
CNI’s Economic Analysis manager, Marcelo Azevedo, said that the result of the Industrial Survey from November confirms what was expected for the end of this year, mainly in view of the more contractionary monetary policy.
“The industry presented good results until the middle of the year, but the effects of the high interest rates were accumulating, becoming quite intense. The sector’s activity is weaker in November and, as a consequence, we have expectations of fewer hirings and less investments”, explained Azevedo.
Stocks
The effective inventory index in relation to the planned one in November was 51.3 points. The result points to a level of inventories above that planned by businessmen. “Despite this, the data is 1.1 points lower than in October. The drop demonstrates a partial adjustment in inventories in the passing of October for November”, says the CNI.
Exports
The exported quantity expectation index from December 2022 increased by 1.1 points compared to November, reaching 50.7 points, which signals a forecast for an increase in exported quantities. The demand expectation index decreased from 51.4 points to 50.8 points. Despite the reduction, the indicator shows that expectations remain optimistic.
Investment
Research indicates that the investment intention index grew by 0.3 points in December 2022 compared to November. Despite the increase, the current value of 53.8 points is the second lowest in 2022.
“The intention to invest lost strength in the last months of 2022, but remains relatively high. The index is above the historical average of 51.4 points, but below the average of January to November 2022, 56.8 points.”
CNI interviewed 1,684 businessmen between the 1st and December 10th??
*With information from the National Confederation of Industry
