Industry production drops 0.3% in February, reveals IBGE

Fall

The current level of Brazilian industrial production is 1.1% below the pre-pandemic level

Brazilian industry production fell 0.3% in February. It is the second month in a row of declines. In January, the performance had been -1.5%. The data is part of the Monthly Industrial Survey, released this Wednesday (3) by the Brazilian Institute of Geography and Statistics (IBGE), in Rio de Janeiro.

Despite the two consecutive falls, in the last 12 months the national industry shows growth of 1%. In January 2024, this annual accumulation was 0.4%.

The current level of Brazilian industrial production is 1.1% below the pre-pandemic level of February 2020, and 17.7% below the maximum point in the series, reached in May 2011.

Activities

Comparing February with January this year, ten of the 25 industrial sectors surveyed showed a reduction in production. The most important negative influences were in the items chemical products (-3.5%), extractive industries (-0.9%) and pharmochemical and pharmaceutical products (-6.0%).

Among the activities that showed progress, motor vehicles, trailers and bodies (6.5%) and cellulose, paper and paper products (5.8%) exerted the main positive impacts.

In terms of the major economic categories, the intermediate goods sector fell 1.2%, having been the only negative rate of the four groups surveyed.

Among the growth, the highlight is the segment of durable consumer goods, which increased 3.6% and showed the most accentuated growth this month, after also advancing in January (1.5%) and December 2023 (6.6% ). Capital goods (1.8%) and semi- and non-durable consumer goods (0.4%) also recorded positive results.

When comparing February 2024 with February 2023, there was an increase of 5%. In this type of comparison – month with the same period of the previous year – this was the seventh increase in a row and the most significant since June 2021 (when the result was 12.1%, in a hiccup of partial recovery from the effects of the coronavirus pandemic). Covid-19).

“The February result had a widespread profile of positive rates and was the highest since June 2021 (12.1%), being influenced not only by the low basis of comparison, but also by the calendar effect, as February 2024 had 19 working days, one more than February 2023”, explains the research manager, André Macedo.

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