RIO DE JANEIRO, BRAZIL – Brazilian industrial production shrank 0.6% in October, compared to September, according to the Monthly Industrial Survey – Physical Production (PIM-PF), released on Friday (03) by the Brazilian Institute of Geography and Statistics (IBGE).
In September, the indicator also dropped by 0.6%, seasonally adjusted, after the revised data (a drop of 0.4%). It is the fifth consecutive month of negative rates, during which the accumulated loss was 3.7%.
With the October result, the industry was 4.1% below the pre-pandemic level in February 2020. The performance was below the median estimate of 33 financial institutions and consultants heard by Valor Data, of a high of 0.8%, free of seasonal effects. The projections ranged from a drop of 1% to a high of 1.8%.
Compared to October 2020, industrial production fell by 7.8%. The estimates were from a drop of 7.1% to a decline of 3.7%. For this basis of comparison, the median expectation of the market was that the indicator would fall by 5%, according to the Valor Data survey.
The accumulated industrial production in 12 months was 5.7%. In the accumulated result in 2021, until October, the industry also advances 5.7%.
With information from Valor