Industrial production records the lowest index since 2017

The trend of industrial activity slows down at the beginning of 2023, the indicator fell by 2.7 points. The data from the Industrial Survey, a survey conducted by the National Confederation of Industry (CNI), released this Thursday (16), show a drop in the production and employment indices, respectively, from 47.9 points to 45.2 points and by 49.2 points. to 48.5 points, from January to February.

According to the CNI, these indicators range from 0 to 100 and the further you move away from the demarcation line, towards zero, the greater and more widespread is the retreat. Although common for the period, the decline in output and employment this year was more intense than in previous years.

“Production usually also falls in the transition from January to February, but this has been the lowest index since 2017. The figure is also lower than the historical average for the month, with 46.5 points”said the head of the Economic Analysis of the CNI, Marcellus Azevedo.

moderate optimism

From February to March 2023, according to the survey, the expectation rates for the next six months changed little. While remaining above 50 points, by and large, they are all below their respective historical averages, which signifies moderate optimism.

The investment intention index stood at 53.6 points in March 2023, down 0.4 points from February. However, it remains above the historical average of 51.5 points and reveals the intention to invest above the usual level.

The Industrial Survey is a monthly survey that listens to small, medium and large industries to evaluate the evolution of production; number of employees; average utilization of installed capacity; inventory level and actual inventory versus plan; investment expectations and intentions. Between 1 and 9 March 2023, 1,637 companies were consulted.

*With information from the CNI