In the seasonally-adjusted series, the national industrial output retreated 0.5% in May 2025 over April. In the seasonally-unadjusted series, it rose 3.3% in relation to May 2024. The cumulative index in the year stayed at 1.8% and, in the last 12 months, at 2.8%.

Negative rates were registered in three out of four broad economic categories and 13 out of 25 sectors surveyed between April and May 2025. Among the activities, the most important negative influences came from motor vehicles, trailers and bodies (-3.9%) and coke, petroleum products and biofuels (-1.8%). It is also worth mentioning the negative contributions recorded by the sector of food products (-0.8%), fabricated metal products (-2.0%), beverages (-1.8%), manufacture of wearing apparel and accessories (-1.7%) and furniture (-2.6%).

Among 11 activities that advanced, that of mining and quarrying industries (0.8%) exerted the major positive impact with the fourth consecutive rise, a period in which it accumulated an expansion of 9.4%. Other relevant positive influences came from pharmochemicals and pharmaceuticals (3.0%), rubber and plastic products (1.6%), leather, traveling goods and footwear (3.2%) and chemicals (0.6%).

Still comparing with the immediately previous month in the seasonally-adjusted series among the broad economic categories, durable consumer goods (-2.9%) and capital goods (-2.1%) showed the steepest negative figures in May 2025. The sector producing semi and non-durable (-1.0%) consumer goods also declined, the second consecutive negative rate, with a cumulative loss of 4.3% in this period.

The only positive result came from the segment of intermediate goods (0.1%), its fourth consecutive month of growth in production, a period in which it accumulated an advance of 2.4%.

Quarterly moving average changes 0.2% in the quarter ended in May

Still in the seasonally-adjusted series, the evolution of the quarterly moving index to the overall industry showed a positive variation of 0.2% in the quarter ended in May 2025 compared with the previous month level and remained the upward trend started in February 2025. Among the broad economic categories, intermediate goods (0.5%) and durable consumer goods (0.3%) reported the positive rates in May 2025. On the other hand, the segments of capital goods (-0.4%) and semi and non-durable consumer goods (-0.4%) showed the negative results in May 2025.

Industrial output advances 3.3% over May 2024

Compared with the same month of the previous year, the industrial sector expanded 3.3% in May 2025, with positive results in three out of four broad economic categories, 19 out of 25 sectors, 55 out of 80 groups and 60.1% of the 789 products surveyed. May 2025 (21 days) had the same number of business days as the same month a year ago (21).

Among the activities, the main positive influences on the overall industry were recorded by mining and quarrying industries (8.7%), motor vehicles, trailers and bodies (12.2%), machinery and equipment (12.6%) and chemicals (6.8%), largely driven by the higher production of crude petroleum oil, iron ores and natural gas, in the first; cars, car pieces, vehicles for transportation of goods and trucks, in the second; agricultural tractors, harvesting machines, air conditioners, wall-mounted or transportable (including split systems), forklift trucks and manual hydraulic tools, in the third; and herbicides for plants, NPK-based chemical fertilizers, insecticides and fungicides (both for use in agriculture) on the fourth one. Other important positive contributions were registered by the sectors of basic metals (6.7%), food products (1.9%), maintenance, repair and installation of machinery and equipment (13.0%), textiles (11.9%), tobacco products (28.4%), rubber and plastic products (3.5%), leather, traveling goods and footwear (7.2%) and beverages (3.4%).

Among six dropping activities still in relation to May 2024, coke, petroleum products and biofuels (-7.2%) exerted the most intense negative influence, mainly pressed by the reduced production of ethyl alcohol.

Semi and non-durable consumer goods were the only sector to retreat against May 2024.

Still comparing with the same month last year, durable consumer goods (15.4%) recorded the biggest expansion among the broad economic categories in May 2025. The sectors producing intermediate goods (5.4%) and capital goods (0.8%) also showed positive rates this month. On the other hand, the segment of semi and non-durable consumer goods (-2.9%) reported the only negative result in May 2025.

Having grown 15.4% in May 2025 over the same period a year ago, the sector of durable consumer goods marked the 12th consecutive positive rate and the highest one since February 2025 (16.4%). This month, the sector was largely driven by the largest manufacture of cars (33.5%). It is also worth mentioning the advances recorded by motorcycles (6.0%) and by the groups of other household appliances (29.4%) and furniture (5.8%). On the other hand, the main negative impacts came from white goods (-10.8%) and brown goods (-1.5%).

The production of intermediate goods showed a 5.4% expansion in May 2025 compared with the same period of the previous year, the third consecutive positive rate and the highest one since February 2024 (5.9%). This month's index was mainly explained by the advances in products associated with ming and quarrying industries (8.7%), motor vehicles, trailers and bodies (15.8%), chemicals (8.6%), basic metals (6.7%), textiles (15.4%), food products (2.7%), machinery and equipment (8.3%), rubber and plastic products (3.6%), bun, petroleum products and biofuels (1.3%), non-metallic mineral products (2.6%) and fabricated metal products (0.2%), while the only negative pressure was recorded by pulp, paper and paper products (-1.7%).

Also in this economic category, it is also worth mentioning the positive results recorded by the groups of typical inputs for construction (1.8%) and packaging (0.3%), which grew again after retreating in the previous month: -1.5% and -1.3%, respectively.

Still in the confrontation with the same month of 2024, the segment of capital goods, by growing 0.8% in May 2025 compared with the same period of the previous year, interrupted two consecutive months of negative rates: April (-3.6%) and March (-1.1%) of 2025. In May, the segment was mainly influenced by advances in the groups of capital goods for agriculture (34.3%) and capital goods for industrial purposes (4.4%), largely driven by the higher production of agricultural tractors and harvesting machines, in the first; and of serial (4.4%) and non-serial (4.7%) capital goods, in the second one.

The other positive results came from capital goods for electricity (4.5%) and for construction (1.0%). On the other hand, the sub-sectors of capital goods for transportation equipment (-2.7%) and for mixed use (-0.7%) showed negative rates.

The sector producing semi and non-durable consumer goods retreated 2.9% in May 2025 compared with the same period of the previous year and marked the second consecutive month of drop in production, but with a less pronounced loss than that observed in the previous month (-6.1%).

The negative performance this month was mainly explained by the retreat observed in the group of fuels (-19.0%), largely pressed by the lower production of ethyl alcohol. It is also worth mentioning the negative result recorded by the group of non-durable (-0.3%), largely influenced by the retreat in the production of items medicines, disinfectants for domestic or industrial uses, hair preparations, bar soaps, disposable diapers and disposable plastic articles.

On the other hand, the main positive impacts were recorded by the sub-groups of food and beverages elaborated for domestic consumption (2.0%), semi-durable (3.0%) and basic food and beverages for domestic consumption (4.9%), largely driven by the higher production of sodas, prepared or preserved potatoes (frozen or not), condensed milk, sausages or salami and other meat preparations, frozen poultry and giblets, breads, frozen, fresh or cooled beef and wines, in the first; women´s leather and synthetic footwear, sandals and slippers of synthetic material, adult wearing apparel (knitted or not), dresses (knitted or not), long pants, table knives, forks, shells and other metal articles for table service, breeches, dungarees, women´s shorts and the like (knitted or not), mobile phones and clothing for babies and their accessories (knitted or not), in the second; and frozen fish, in the third one.

Cumulative index in the year grows 1.8%

In the cumulative index in the year, compared with the same period of the previous year, the industrial sector reported an advance of 1.8%, with positive results in three out of four broad economic categories, 17 out of 25 sectors, 55 out of 80 groups and 56.4% of the 789 products surveyed.

Among the activities, the main positive influences came from mining and quarrying industries (3.2%), motor vehicles, trailers and bodies (6.3%), machinery and equipment (10.0%), chemicals (4.7%) and basic metals (5.1%), mainly driven by the higher production of manganese, iron and copper ores and their concentrates, crude petroleum oil and natural gas, in the first; cars, car pieces, vehicles for transportation of goods and trucks, in the second; wall-mounted or transportable air conditioners (including split systems”), forklift trucks, agricultural tractors, manual hydraulic tools, machines or appliances for the agricultural sector, grain cleaning and selection machines, casting ingot molds, centrifugal pumps and harvesting machines, in the third; Fungicides and insecticides (both for use in agriculture), herbicides for plants and NPK-based chemical fertilizers, in the fourth; and re-rolled bars, rebars, wire-machine and other long steel products , re-rolled plates, coils, ribbons and straps , zinc and alloys of raw shapes, carbon steel hot coils, ferroniobium, precious metals and their alloys in gross shapes, flexible and drawn tubes of iron and steel and stainless steel coils or plates, in the last one.

Other important positive contributions came from textiles (11.8%), maintenance, repair and installation of machinery and equipment (9.0%), fabricated metal products (2.6%), electrical machinery and apparatus (2.7%) and rubber and plastic products (1.5%).

Among the seven dropping activities, still in the cumulative index in the year, that of coke, petroleum products and biofuels (-3.1%) exerted the most intense negative influence, mainly pressed by the reduced production of ethyl alcohol and diesel fuel. It is also worth mentioning the negative impacts recorded by the sectors of reproduction of recorded media (-12.0%), pulp, paper and paper products (-1.7%) and food products (-0.3%).

Among the broad economic categories, the profile of results for the first five months of 2025 showed greater dynamism for durable consumer goods (10.0%), largely driven by a higher production of cars (11.9%) and brown goods (10.2%). The sectors producing intermediate goods (2.3%) and capital goods (1.9%) also registered positive rates in the cumulative index in the January-May 2025 period and pointed to higher advances than the industry average (1.8%). On the other hand, the segment of semi and non -durable consumer goods, when retreating 1.2%, recorded the only negative rate at the closing of the first five months of the year.