In July 2025, national industrial production varied -0.2% compared to June, in the seasonally adjusted series. Compared to July 2024, in the unadjusted series, there was an expansion of 0.2%. The year-to-date growth was 1.1%, and the last 12 months reached 1.9%.

Between June and July 2025, two of the four broad economic categories and 13 of the 25 industrial sectors surveyed showed a decline in production. Among the activities, the most significant negative impact was recorded by basic metlas (-2.3%), which interrupted two consecutive months of production growth, a period in which it accumulated a 1.6% gain. Other significant negative contributions to the industry as a whole came from other transportation equipment (-5.3%), printing and reproduction of recorded media (-11.3%), beverages (-2.2%), maintenance, repair, and installation of machinery and equipment (-3.7%), computer equipment, electronic and optical products (-2.0%), miscellaneous products (-3.5%), and rubber and plastic products (-1.0%).

Among the eleven activities that showed growth in production, pharmaceuticals (7.9%), food products (1.1%), mining and quarrying industries (0.8%), and chemicals (1.8%) exerted the main impacts in July 2025, with the first marking the third consecutive month of production growth, a period in which it accumulated a gain of 13.9%; the second interrupting four consecutive months of production decline, a period in which it registered a loss of 3.3%; the third eliminating part of the 1.8% decline observed in the previous month, when it interrupted four consecutive months of positive rates, a period in which it accumulated expansion of 9.4%; and the last accumulating an increase of 2.8% in the period May-July 2025. It is also worth highlighting the positive influences recorded by coke, petroleum products and biofuels (0.6%), machinery and equipment (1.2%), and pulp, paper, and paper products (0.7%).

Among the broad economic categories, compared to the previous month, durable consumer goods (-0.5%) and capital goods (-0.2%) recorded negative rates in July 2025, with both declining again after a 0.2% increase in the previous month. On the other hand, the intermediate goods (0.5%) and semi-durable and non-durable consumer goods (0.1%) sectors showed positive results this month, with the former eliminating the 0.2% loss accumulated in June and May 2025; and the latter interrupting three consecutive months of production decline, a period in which it accumulated a 5.6% loss.

Quarterly moving average fluctuates -0.3% in the quarter ended in July

Also in the seasonally adjusted series, the quarterly moving average index for total industry showed a negative change of 0.3% in the quarter ended in July 2025 compared to the previous month, after also registering a decline in June (-0.4%), when it interrupted the upward trend that began in February 2025. Among the broad economic categories, still regarding the movement of this index at the margin, durable consumer goods (-1.3%) recorded the steepest decline in July 2025 and intensified the 1.0% loss recorded in June 2025. The semi- and non-durable consumer goods (-0.7%) and capital goods (-0.5%) sectors also posted negative results in July 2025. On the other hand, the intermediate goods segment (0.1%) showed the only positive rate this month and maintained the upward trend that began in March. 2025.

Compared to July 2024, industrial production changed by 0.2%

Compared to the same month of the previous year, the industrial sector recorded a positive change of 0.2% in July 2025, with positive results in one of the four broad economic categories, 12 of the 25 sectors, 39 of the 80 groups, and 47.8% of the 789 products surveyed. It is worth noting that July 2025 (23 days) had the same number of business days as the same month of the previous year (23).

Among activities, the main positive influence on the industry total was recorded by mining and quarrying industries (6.3%), driven primarily by the increased production of crude petroleum and natural gas. It is also worth highlighting the positive contributions recorded by food products (2.2%), pharmaceuticals (12.0%), machinery and equipment (5.2%), chemicals (1.9%), textiles (9.9%), pulp, paper, and paper products (3.8%), and maintenance, repair, and installation of machinery and equipment (8.7%).

Also compared to July 2024, among the thirteen activities that reported a reduction in production, coke, petroleum products, and biofuels (-7.7%) exerted the greatest influence on the industry average, largely pressured by the lower production of ethyl alcohol. Other significant negative impacts were recorded by the beverages (-8.8%), printing and reproduction of recorded media (-29.1%), fabricated metal products (-5.0%), miscellaneous products (-12.2%), electrical machinery, equipment, and materials (-3.6%), and non-metallic mineral products (-3.0%).

Intermediate goods posted the only positive result compared to July 2024

Also compared to the same month last year, among the broad economic categories, the intermediate goods segment (2.5%) posted the only positive result in July 2025. On the other hand, the sectors producing semi-durable and non-durable consumer goods (-4.1%), durable consumer goods (-3.4%), and capital goods (-0.1%) posted negative growth rates that month.

The intermediate goods sector expanded 2.5% in July 2025 compared to the same period last year, marking the fifth consecutive positive growth rate in this type of comparison. This month's result was primarily explained by increases in products associated with mining and quarrying industries (6.3%), motor vehicles, trailers, and bodies (6.0%), textiles (13.3%), food products (2.7%), chemicals (2.8%), pulp, paper, and paper products (5.0%), rubber and plastic products (2.0%), and coke, petroleum products, and biofuels (0.6%). Negative pressures were recorded by fabricated metal products (-5.8%), non-metallic mineral products (-3.0%), and basic metals (-1.1%). Also in this economic category, it is worth mentioning the negative results recorded by the groups of typical inputs for civil construction (-4.7%), which intensified the loss recorded last June (-1.9%); and packaging (-3.2%), which marked the fourth consecutive negative rate in this type of comparison and the highest of this sequence.

Semi-durable and non-durable consumer goods, which fell 4.1% in July 2025 compared to the same period last year, marked the fourth consecutive negative rate in this type of comparison. The negative performance this month was mainly explained by the decline observed in the fuels group (-18.5%), largely driven by lower ethyl alcohol production. It is also worth mentioning the negative results recorded by food and beverages prepared for domestic consumption (-0.6%) and semi-durable goods (-1.4%), largely influenced by declines in the production of beer and draft beer, concentrated orange juice, roasted and ground coffee, ready-to-eat corn-based foods, prepared tomato sauces, soft drinks, and powdered preparations for beverage preparation, in the former; and women's shirts, blouses, and similar items, iron and steel articles for domestic use, DVDs, adult apparel, synthetic sports footwear, mattresses, women's synthetic and leather footwear, children's clothing and  accessories, and curtains and accessories, in the latter. On the other hand, positive impacts were seen in non-durable goods (2.5%) and basic food and beverages for household consumption (9.3%), driven largely by increased production of medicines in the former; and frozen fish and fillets and other fresh, chilled, or frozen fish in the latter.

Compared to the same month last year, the durable consumer goods segment, with a 3.4% decline in July 2025, snapped thirteen consecutive months of positive growth and recorded its steepest decline since May 2024 (-10.5%). This month, the sector was pressured largely by lower production of brown goods (-12.0%) and white goods (-12.4%). Also noteworthy were the declines recorded by cars (-1.0%), motorcycles (-3.9%), and the other household appliances (-0.5%) and furniture (-0.8%) groups.

The production of capital goods showed a negative change of 0.1% in July 2025 compared to the same period of the previous year, after falling 2.8% in June and growing 1.2% in May 2025, when it interrupted two consecutive months of negative rates: April (-4.1%) and March (-1.3%) of 2025. In the formation of this month's index, the segment was influenced by the declines observed in the groups of mixed-use capital goods (-9.2%) and transport equipment (-1.7%). On the other hand, agricultural capital goods (9.7%), industrial capital goods (2.8%), construction capital goods (9.3%), and electric power capital goods (2.9%) recorded positive impacts in July 2025.

Year-to-date growth of 1.1%

Year-to-date, compared to the same period last year, the industrial sector recorded growth of 1.1%, with positive results in three of the four broad economic categories, 16 of the 25 sectors, 46 of the 80 groups, and 53.5% of the 789 products surveyed. Among the activities, the main positive influences on the industry total were recorded by mining and quarrying industries (3.7%), motor vehicles, trailers, and bodies (4.7%), machinery and equipment (7.9%), and chemical products (3.5%), driven primarily by the increased production of crude petroleum oils, manganese and copper ores and their concentrates, natural gas, and iron ore in the former; cars, auto parts, freight vehicles, and trucks, in the second; wall-mounted, window-mounted, or transportable air conditioning units (including split-system air conditioning units), goods lifting or transporting devices, agricultural tractors, hand-held hydraulic tools, agricultural machinery or equipment, ingot molds for foundry work, harvesting machines, and grain cleaning and sorting machines, in the third; and fungicides and insecticides (both for agricultural use), herbicides for plants, and chemical fertilizers with NPK formulas, in the fourth. Other significant positive contributions were recorded by basic metals (3.8%), textile products (11.2%), and maintenance, repair, and installation of machinery and equipment (9.6%).

On the other hand, also comparing January-July 2024, among the nine activities that showed a reduction in production, coke, petroleum products, and biofuels (-4.8%) exerted the greatest influence on the industry average, pressured mainly by the lower production of ethyl alcohol. It is also worth noting the negative impacts recorded by the printing and reproduction of recorded media (-12.6%), beverages (-2.6%), and food products (-0.4%) sectors.

Among the broad economic categories, the result profile for the first seven months of 2025 showed greater dynamism for the durable consumer goods segment (6.4%), driven largely by the increased production of cars (7.4%) and brown goods (5.3%). The intermediate goods (2.2%) and capital goods (0.9%) sectors also recorded positive rates in the cumulative index for the period of January-July 2025, with the first indicating a higher increase than the industry average (1.1%); and the second indicating less sharp growth. On the other hand, the semi-durable and non-durable consumer goods segment, by falling 2.6%, recorded the only negative rate in the year-to-date index.