National industrial production fell 0.2% in October. In the two previous results it had registered growth, but with this drop it canceled part of the 1.2% gain accumulated in the period.
However, compared to the same month in 2023, industry production increased 5.8%, being the fifth consecutive month of expansion. The accumulated index for the year also increased (3.4%), as well as in 12 months (3.0%).
After this performance, industrial production is 2.6% above the pre-pandemic level, in February 2020, but 14.4% below the record level reached in May 2011. The numbers make up the Monthly Industrial Survey Brazil (PIM Brasil ), released this Wednesday (4), by the Brazilian Institute of Geography and Statistics (IBGE).
Among the activities that influenced the decline in October were coke, petroleum products, biofuels and, especially, the reduction in alcohol production. PIM Brasil manager, André Macedo, reported that activity shrank by 2.% in October, after rising 4.7% in September. At that time, two consecutive months of decline in production were interrupted, a period in which it accumulated a drop of 3.4%.
“This month, the segment was negatively pressured by the lower production of alcohol and automotive gasoline. Other relevant negative contributions to the total industry came from the beverage and extractive industries,” he said in a text released by IBGE.
The beverages (-1.1%) and extractive industries (-0.2%) sectors also contributed negatively.
According to the indicator, among the 25 industrial activities surveyed, 19 showed an increase in production, such as motor vehicles, trailers and bodies, which exerted the main influence in October 2024, rising 7.1% and intensifying growth of 2.8% registered in September.
“In this segment, the influence of the greater production of cars, trucks and auto parts can be observed. It is also worth highlighting the positive results reported by the manufacturing sectors of clothing and accessories, chemical products, machines, electrical appliances and materials, and cellulose and paper products”, added the manager.
There was also a positive influence from the manufacturing of clothing and accessories (14.1%), chemical products (2.8%), electrical machines, apparatus and materials (5.4%), cellulose, paper and paper products (3.4%), metallurgy (2.1%), miscellaneous products (7.4%), machinery and equipment (2.0%), food products (0.5%) and pharmochemicals and pharmaceuticals (2. 9%).
October 2023
The increase of 5.8%, in relation to October 2023, in addition to being the fifth consecutive month of expansion, showed a reinforcement in the pace of industrial production compared to the increases of 3.4% in September and 2.3% in August . “In the same index, the characteristic of a widespread profile of positive rates prevails, reaching the four major economic categories and 21 of the 25 industrial sectors surveyed,” said the IBGE.
According to the research, with growth of 3.4% in the year to date, the industry as a whole continues to expand production throughout the year and expand the pace of growth, including a predominance of positive rates. “This month, there is the most widespread profile of 2024 for this indicator, with the four major economic categories and 21 of the 25 industrial sectors surveyed showing growth in production”, commented the manager.
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According to IBGE, since the 1970s, PIM Brasil has produced short-term indicators, related to the behavior of the real product of the extractive and transformation industries. The publication of the new series of monthly industrial production indices began in March 2023, “after reformulation to update the sample of activities, products and informants, develop a new weighting structure for the indices based on the most recent industrial statistics, update the year- research reference base and the incorporation of new Federation units in the dissemination of regional results”.
According to IBGE, “these methodological changes are necessary and seek to incorporate economic changes in society”.
