Manufacturing industry revenues rise in November, says CNI

The real turnover of the manufacturing industry increased by 1.4% in November compared to October last year, informed this Wednesday (18) the National Confederation of Industry (CNI). With the result of the month, billing accumulates the second consecutive month of growth.

Compared to November 2021, revenue grew by 9.9%. The numbers refer to the seasonally adjusted series, which excludes the effects of seasonal variations in the dataset.

The data are in the Industrial Indicators publication, produced by CNI. In addition to turnover in the manufacturing industry, there was also a slight increase in November, compared to October, indices for the real salary mass in the manufacturing industry and the real average earnings of workers.

In relation to wages, there was growth of 1%, which reversed the fall of 0.5% in the previous month. Compared to November 2021, the wage bill grew by 6.8%.

The real average income of industry workers also increased by 1% in November 2022, compared to October, in the seasonally adjusted series. With that, the yield reverses the previous month’s decline and reaches the highest point since August 2020, in an upward trend for the past 12 months. Compared to November 2021, the yield increased by 6.0%.

Stability

The other indices measured by the CNI survey remained practically stable in November. They are the index of hours worked in production, industrial employment and utilization of installed capacity.

In the case of hours worked, the study pointed out that they remained practically stable in November 2022, compared to October, registering a rise of 0.1% in the seasonally adjusted series.

“It is worth noting that, in September 2022, the index interrupted the growth trend that had been present since mid-2021. In comparison with November 2021, there is growth of 1.3%”, says the publication.

Regarding industrial employment, the change was also 0.1% in November, compared to the previous month. For the CNI, recent behavior reinforces the accommodation of the pace of job growth, which registered successive increases between the second half of 2020 and the second half of 2022. In comparison with November 2021, the increase was 0.8%.

The use of industrial installed capacity (ICU) showed the same performance in the same period, with change of 0.1 percentage point (pp), in comparison with October, remaining at 80.3%, in the series without seasonal effects.

“The advance takes place after a slight downward trend that has been seen since the end of 2021. Despite this UCI trend, the indicator has been above 80% since March 2021. 1.0 pp”, said the CNI.