After falling in July, industrial production grows 0.1% in August

Brazilian industry production grew 0.1% from July to August, driven mainly by the extractive industry, which includes oil and mining. The result is a slight recovery after the 1.4% drop in July. Throughout 2024, the sector will expand by 3%. Over the last 12 months, the result is positive at 2.4%.

The data is part of the Monthly Industrial Survey, released this Wednesday (2) by the Brazilian Institute of Geography and Statistics (IBGE). With the results presented, Brazilian industry is 1.5% above the pre-pandemic level of February 2020. However, it is still 15.4% below the highest level ever recorded, in May 2011.

Although industrial production remained positive between July and August, the details of the research reveal that there was a decline in 18 of the 25 industrial sectors surveyed.

The diffusion index was 56.7%. This indicator shows the percentage of products that expanded, among the 789 investigated.

When analyzing a period of three months, which allows us to understand the sector’s trend, the research manager, André Macedo, highlights that “the balance of industrial production is positive, as the total industry grew 4.4% in June” .

“This movement is also evident when we observe the quarterly moving average index, which has remained on an upward trajectory since mid-2023”, he adds.

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