Brazilian industry slows down in September while income advances, says CNI

The Brazilian industrial sector decelerated in the last month of September compared to August, according to the Industrial Indicators survey by the National Confederation of Industry (CNI) released this Friday (4).

In the same period, however, the average real income increased by 0.7% for the fourth consecutive month, and, in the annual comparison, increased by 3.3%. The wage bill indicator also follows this sequence of gains, advancing 0.3% compared to August and 6.4% annually.

Job creation, on the other hand, fell by 0.4% compared to August, marking the second consecutive month of decline. In the annual comparison, however, it presents a high of 0.6%.

In terms of real industry revenue, the month of September was marked by a drop of 0.2% compared to the previous one, although, compared to the same period in 2021, it recorded an increase of 7.9%.

“Despite the deceleration registered this month, there are elements that can positively affect the manufacturing industry, including the continuous recomposition of the population’s income, which allows for the maintenance of the consumption of industrial goods, and the reorganization of the supply chain, which alleviates the pressure on production costs”, analyzes CNI economist Larissa Nocko, in a note sent to the press.

At the same time, the number of hours worked decreased by 1.1% in relation to August and increased by 3.3% in the annual comparison. Installed Capacity Utilization retreated 0.1 percentage point monthly, to 80.2%, a level higher than the pre-pandemic level.