November Marks Fourth Month of Growth for Brazilian Industry

In the latest development, Brazil’s industrial production increased by 0.5% in November compared to October.

The Brazilian stags agency IBGE released these findings on January 5, 2024. Their full report is in a PDF that you can download here.

This growth is the fourth consecutive monthly increase. Over the year, the industry saw a slight rise of 0.1%. It has been stable for 12 months, with no change since May 2023.

When comparing with November 2022, there was a 1.3% growth. This growth did not account for seasonal changes. It’s the fourth straight month of positive growth.

The IBGE reports that 13 of 25 industrial sectors saw increases in November 2023. These sectors include extractive industries, which grew by 3.4%.

The food products sector increased by 2.8%. Also, coke, petroleum derivatives, and biofuels went up by 0.6%.

The beverage sector rose by 2.8%, and non-metallic mineral products grew by 2.3%. Lastly, metallurgy saw a 0.8% increase.

In contrast, 12 sectors saw declines in the same period. These include pharmaceuticals and farmochemicals, dropping by 10.2%.

Motor vehicle production fell by 3.1%. The sector of computer, electronic, and optical products declined by 6.5%.

Machinery and equipment decreased by 2.8%. Printing and recording reproduction plunged by 11.2%.

Apparel and accessories manufacturing fell by 2.9%. Electrical machinery and apparatus dropped by 2.3%. Lastly, leather goods, travel items, and footwear declined by 2.7%.

Looking at broader categories, intermediate goods experienced a 1.6% increase. Semi and non-durable consumer goods went up by 0.2%.

However, capital goods and durable consumer goods decreased by 1.7% and 3.3%, respectively.

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