National industry
National industry registers -0.2% in October; interrupts two consecutive months of growth
December 04, 2024 09h00 AM | Last Updated: December 04, 2024 02h42 PM
After growing for two consecutive months, the national industrial output registered a negative change of 0.2% between September and October, a result that offsets part of the gain of 1.2% accumulated in the period. In relation to October 2023, industry grew its production by 5.8%, the fifth month of expansion in a row. In the year, it accumulates a rise of 3.4% and, in 12 months, an advance of 3.0%. With this result, the industrial output is 2.6% above the pre- pandemic level (February 2020), though 14.4% below the record level reached in May 2011.
Among the activities in the seasonally-adjusted series, the biggest negative influence was recorded by coke, petroleum products and biofuels in the comparison between October and September 2024 (highlighted by the reduction in the production of alcohol). According to André Macedo, PIM Brazil´s manager, this activity retreated 2.0% in October, after advancing 4.7% in September, when it interrupted two consecutive months of drop in the output, a period in which it accumulated a decline of 3.4%.
"This month, this segment was negatively pressed by the reduced production of the items alcohol and motor gasoline. Other relevant negative contributions to the overall industry came from the sectors of beverages and mining and quarrying industries," explains him.
Unlike noticed in the previous two months, the index shows a predominance of positive rates this month. Of the 25 industrial activities surveyed, 19 expanded their output. Having advanced 7.1% and stepped up the growth of 2.8% registered in September, motor vehicles, trailers and bodies was the activity that exerted the major impact in October 2024.
"The influence of the greater production of cars, trucks and car pieces can be noticed in this segment. It should also be highlighted the positive figures recorded by the sectors of manufacture of wearing apparel and accessories, chemicals, electrical machinery and apparatus, and pulp, paper and paper products," emphasizes Macedo.
Having grown 5.8% in comparison with October 2023, the industrial output records the fifth consecutive month of expansion and steps up the pace against the advances of 3.4% in September and of 2.3% in August. A widespread profile of positive rates prevails in this index, reaching the four broad economic categories and 21 out of 25 industrial sectors surveyed.
In the cumulative indicator in the year, the overall industry advances 3.4%, maintaining the expansion of the production throughout the year and stepping up the pace of growth, including the predominance of positive rates. "This month shows a more widespread profile for this indicator in 2024, with the four broad economic categories and 21 out of 25 industrial sectors surveyed growing their output," complements Macedo.
More on the survey
PIM Brazil has been producing short-term indicators since the 1970s regarding the behavior of the real product of mining and quarrying and manufacturing industries. March 2023 marked the beginning of the release of the new time series of monthly indexes of the industrial production, after a redesign to update the sample of activities, products and informants; create a new weighting structure of the indexes based on the most recent industrial statistics; update the base year of reference of the survey; and incorporate new Federation Units in the release of regional results of the survey. These methodological changes are required and aim at incorporating the economic transformations of society.
