Data release: 08/02/2022
In June 2022, the industrial production performed worse than expected (-0.2% YoY), registering a fall of 0.5% on YoY, in line with our expectations of -0.6%. The seasonally adjusted series retreated 0.4% MoM, behind our expectations of 0.3%.
- Positive highlights: automotive vehicles, trailers and bodyworks (6.1%); extractive industries (1.9%).
- Negative highlights: pharmaceutical e pharmochemicals (-14.1%); coke, oil-derivative products and oil and biofuels (-1.3%); machinery and equipment (-2.0%); metallurgy (-1.8%), IT equipment, electronic and optical products (-2.8%); other transportation equipment (-5.5%).
View: We expect to see a deceleration on the industrial sector due to the monetary tightening cycle.
