Industrial production decreased 0.7% in February | News agency

Industrial production decreased 0.7% in February | News agency
Industrial production decreased 0.7% in February | News agency

In February 2021, the country’s industrial production decreased 0.7% compared to January, in the seasonally adjusted series, interrupting nine months of consecutive positive results, a period in which it accumulated an increase of 41.9%.

February 2021 / January 2021 -0,7%
February 2021 / February 2020 0,4%
Accumulated in the year 1,3%
Accumulated in 12 months -4,2%

Compared to February 2020, there was an increase of 0.4%, the sixth consecutive positive rate in this comparison. The industry accumulated growth of 1.3% in the year and a decrease of 4.2% in the last twelve months, the least intense decrease in this indicator since April 2020 (-2.9%).

Industrial Production Indicators by Major Economic Categories
Brazil – February 2021
Major Economic Categories Variation (%)
February 2021 /
Janeiro 2021*
February 2021 /
February 2020
Accumulated
January February
Accumulated in
Last 12 Months
Capital goods -1,5 16,1 16,6 -7,3
Intermediate Goods 0,6 0,5 1,7 -0,9
Consumer goods -1,1 -3,2 -2,3 -9,0
Durable -4,6 -8,4 -6,3 -20,1
Semi-durable and non-durable -0,3 -1,6 -1,1 -5,9
General Industry -0,7 0,4 1,3 -4,2
Source: IBGE, Research Directorate, Industry Coordination
* Seasonally adjusted series

The 0.7% decline in industry, from January to February 2021, had a widespread profile of negative rates, reaching three of the four major economic categories and 14 of the 26 surveyed sectors.

Motor vehicle production falls after nine months of high

Among the activities, the most important negative influences came from automotive vehicles, trailers and bodies (-7.2%) and mining and quarrying industries (-4.7%). The motor vehicle, trailer and bodywork sector interrupted nine months of consecutive positive results, with an accumulated increase of 1,249.2% in the period. The activity of extractive industries, on the other hand, eliminated the advances of December 2020 (3.8%) and January 2021 (1.0%).

Other negative influences were: textile products (-9.0%), metal products (-4.1%), leather, travel goods and footwear (-5.9%), miscellaneous products (-8.2%) , coke, petroleum products and biofuels (-0.7%), clothing and accessories (-3.5%), pharmaceutical and pharmaceutical products (-3.4%) and beverages (-1, 8%).

On the other hand, among the 12 activities on the rise, other chemical products (3.3%) and machinery and equipment (2.8%) pointed out the main positive impacts in February 2021. The first recorded the fourth consecutive month of expansion in the production, accumulating in the 9.4% gain period, while the second eliminates the 2% reduction registered in January 2021, when it interrupted eight consecutive months of high. The positive results of the metallurgy (1.4%) and food products (0.5%) sectors also stand out.

Between the broad economic categories, durable consumer goods decreased 4.6% from January to February, marking the month’s strongest negative rate. It is the second consecutive month of reduction in production, with an accumulated fall of 5.5% in the period.

The segments of capital goods (-1.5%) and semi and non-durable consumer goods (-0.3%) also registered negative rates in February, with the first interrupting nine months of positive results (accumulated expansion of 147.1%) and the second reversing the 1.7% increase registered in January. Only the intermediate goods sector (0.6%) had a positive rate in February 2021, eliminating part of the 1% reduction seen in January.

Moving average changes 0.2% in the quarter ended in February

Still in the seasonally adjusted series, the quarterly moving average for the industry total showed a positive change of 0.2% in the quarter ended in February 2021 compared to the level of the previous month, after also growing in January 2021 (0.7% ), December (0.9%), November (1.6%), October (2.4%), September (4.8%), August (7.0%) and July (9.0%) 2020, when it interrupted the predominantly downward trajectory that started in November 2019.

Among the major economic categories, capital goods (1.9%) marked the most intense advance, maintaining the positive behavior present since July 2020 and accumulating in the period earned 89.8%. The segments of semi and non-durable consumer goods (0.4%) and intermediate goods (0.3%) also showed growth in February 2021, with the first continuing with the upward trend that started in May 2020, and the second advancing for the eighth consecutive month and accumulating an expansion of 20.8% in this period.

On the other hand, the durable consumer goods sector (-1.5%) pointed to the only negative rate in February 2021 in this index, thus interrupting the sequence of positive results that started in July 2020, a period in which it accumulated growth 188.6%.

Industry changes 0.4% in relation to February 2020

Before the same month of 2020, the industry presented a positive change of 0.4% in February 2021, with increases in two of the four major economic categories, 17 of the 26 branches, 52 of the 79 groups and 56.4% of the 805 products surveyed. It is worth mentioning that February 2021 had the same number of working days as the same month in the previous year, 18 days.

Among the activities, the main positive influences came from machinery and equipment (18.5%), other chemical products (8.1%), metal products (10.6%) and non-metallic mineral products (9.7 %). Other important positive impacts were in the metallurgy (5.1%), rubber and plastic products (7.0%), machinery, electrical appliances and materials (10.0%), cellulose, paper and paper products sectors (4.0%) and textile products (6.3%).

On the other hand, among the nine activities in decline, mining and quarrying (-6.7%), motor vehicles, trailers and bodies (-6.7%), food products (-4.4%) and coke, products derived from oil and biofuels (-3.8%) had the greatest negative influence on the formation of the industry average. It is also worth noting the negative contributions noted by the sectors of other transportation equipment (-22.5%), drinks (-5.0%) and maintenance, repair and installation of machines and equipment (-12.3%).

Among the major economic categories, capital goods (16.1%) showed the most accentuated increase. It is the sixth consecutive positive rate in this comparison. The intermediate goods segment (0.5%) also grew above the industry average, with the eighth consecutive positive result in this comparison, but the least intense in the sequence.

On the other hand, the sectors of durable consumer goods (-8.4%) and semi and non-durable consumer goods (-1.6%) registered negative rates in the month.

Two of the four major economic categories accumulate high in 2021

In the accumulated result for the year (January-February), compared to the same period of the previous year, the industry grew 1.3%, with positive results in two of the four major economic categories, in addition to 17 of the 26 branches, 52 of the 79 groups and 58 , 6% of the 805 products surveyed.

Among the activities, machinery and equipment (18.1%), metal products (13.2%) and other chemical products (6.8%) had the greatest positive influence on the industry. Other positive contributions came from non-metallic minerals (10.9%), metallurgy (6.1%), rubber and plastic products (8.3%), machines, electrical appliances and materials (9.8%) %), textile products (13.1%) and cellulose, paper and paper products (4.5%).

Among the nine activities in decline, the main influences came from food products (-5.1%) and coke, petroleum products and biofuels (-4.0%). Extractive industries (-3.0%), other transportation equipment (-30.2%), maintenance, repair and installation of machinery and equipment (-12.9%), motor vehicles, trailers and bodies also made negative contributions (-1.6%), beverages (-2.7%) and computer equipment, electronic and optical products (-4.5%).

Among the major economic categories, the highest accumulated increase in the year was in capital goods (16.6%), but the intermediate goods segment (1.7%) also grew above the industry average. On the other hand, the durable consumer goods sector (-6.3%) had the most intense fall among the major economic categories, followed by semi and non-durable consumer goods (-1.1%).

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