In August 2023, Brazil’s national industrial production experienced a 0.4% variation compared to July, according to seasonally adjusted data. Compared to August 2022, there was a 0.5% increase. However, the industry has accumulated a negative rate for the year (-0.3%) and a -0.1% variation over the last 12 months.
Key Figures:
- August 2023 / July 2023: 0.4%
- August 2023 / August 2022: 0.5%
- Year-to-date: -0.3%
- Last 12 months: -0.1%
Three of the four major economic categories and 18 out of 25 industrial branches saw production expansion. Notable positive influences came from pharmaceutical products (18.6%), motor vehicles (5.2%), and information technology, electronic, and optical equipment (16.6%).
However, extractive industries (-2.7%) had a significant negative impact in August 2023. Other declines were observed in various products (-8.0%), leather goods, travel items, and footwear (-4.2%), and metallurgy (-1.1%).
Industrial Production by Major Economic Categories Brazil – July 2023:
- Capital Goods: 4.3%
- Intermediate Goods: -0.3%
- Consumer Goods: 1.4%
- Durable: 8.0%
- Semi-durable and Non-durable: 1.0%
- General Industry: 0.4%
The three most positive categories in August 2023, compared to the previous month, were durable consumer goods (8.0%), capital goods (4.3%), and semi-durable and non-durable consumer goods (1.0%). However, intermediate goods (-0.3%) recorded the only negative rate.
Quarterly Moving Average Shows -0.1% Variation
In the seasonally adjusted series, the quarterly moving average for total industry registered -0.1% for the quarter ending in August 2023. This follows -0.1% in July and June, interrupting the positive trend seen in May (0.3%), April (0.1%), and March (0.2%) 2023.
Annual Expansion in Three Out of Four Categories
Compared to August 2022, the industrial sector showed a 0.5% expansion in August 2023. Positive results were seen in three of the four major economic categories, 9 out of 25 branches, and 32 out of 80 groups.
The notable positive impacts came from food products (7.6%), petroleum and biofuels (6.5%), and extractive industries (3.8%). However, motor vehicles (-10.7%), chemicals (-4.5%), and machinery and equipment (-7.0%) were among the activities that negatively influenced overall industry performance.
Consumer Semi-durables and Non-durables Lead Annual Growth
In the comparison with August 2022, semi-durable and non-durable consumer goods (3.5%) and durable consumer goods (2.8%) recorded the most substantial expansions. Intermediate goods (0.4%) also grew, though less intensely than the industry average (0.5%). On the flip side, capital goods (-15.4%) experienced the only negative rate in August.
Year-to-Date Shows a Negative Variation of 0.3%
From January to August 2023, the industrial sector accumulated a decline of 0.3% compared to the same period in 2022. Notable negative influences came from chemicals (-7.8%), motor vehicles (-4.4%), and information technology, electronic, and optical equipment (-12.1%).
Positive impacts came from extractive industries (5.7%), food products (3.6%), and petroleum and biofuels (3.9%). Consumer durables (4.1%) showed the highest growth among the major economic categories, while consumer semi-durables and non-durables (1.7%) also expanded.