Industrial output in Brazil shrinks 0.3%

Brazil’s industrial production saw a 0.3 percent decrease in January from the previous month. The data were reported Thursday (Mar. 30) by statistics bureau IBGE.

Compared to January 2022, the output was up 0.3 percent. In 12 months, the sector was down 0.2 percent.

“With these results, the industrial sector stands 2.3 percent below what it was before the pandemic, in February 2020, and 18.8 percent below the record reached in May 2011,” said Research Manager André Macedo.

Even though industrial yields showed some improvement late in the year, they open 2023 on the wane, and are still far from making up for recent losses, Macedo noted.

Eleven of the 25 surveyed industrial activities faced a shrinkage from December to January—most notably pharmochemicals (-13%); auto vehicles, trailers, and trucks (-6%); and food products (-2.1%).

Conversely, atop the list of 14 growing activities were extraction (1.1%), and miscellaneous products (9.2%).