RIO DE JANEIRO, BRAZIL – Brazilian industrial production shrank 1.3% in July, compared to the previous month, according to the Monthly Industrial Survey – Physical Production (PIM-PF), released on Thursday by the Brazilian Institute of Geography and Statistics (IBGE).
In June, the indicator had a 0.2% retraction in the seasonally adjusted series after revised data (it was stable).
With the July result, the industry was 2.1% below the pre-pandemic level in February 2020. The performance was below the median estimate of 34 financial institutions and consultants heard by Valor Data, dropping 0.8% free of seasonal effects. The projections ranged from a fall of 2.1% to a rise of 0.3%.
Compared to July 2020, industrial production rose 1.2%. The estimates ranged from a drop of 0.5% to an increase of 4.8%. For this basis of comparison, the median expectation of the market was that the indicator had advanced 1.9%, according to the Valor Data survey.
The accumulated industrial production in the past 12 months was up 7%. In the accumulated result in 2021 through July, there was an 11% advance.