Data release: 10/05/2022
In August, industrial production fell 0.6% compared to July, showing a number aligned with market expectations.
- Positive highlights: production, motor vehicles, trailers and bodyworks (10.8%), machinery and equipment (12.4%), other chemical products (9.4%), pharmochemical and pharmaceutical products (9.9%), computer equipment, electronic and optical products (6.0%), other transport equipment (8.9%), miscellaneous products (7.4%) and beverages (1.7%).
- Negative highlights: oil-derived products and biofuels (-4.2%), food products (-2.6%), extractive industries (-3.6%) and textiles (-4.6%).
View: as expected by us and the market, industrial production showed a marginal retreat against the reasonable advance in the month of July. Industry surveys already show a reduction in the pace of the current situation while expectations remain stable, however, it is worth noting a drop in the Installed Capacity for the coming months. It seems that the industry should have a little more limited growth due to monetary policy and difficulties in supplying some inputs.
