Data Release: 11/01/2022
In September, the industrial production dropped 0.7%, in line with what the market had expected.
Positive highlights: extractive industries (1.8%) and machinery and equipment (2.2%)
Negative highlights: food products (-2.9%), metallurgy (-7.6%), and coke, oil products, and biofuels (-2.6%), beverages (-4.6%) and wood products (-8.8%)
The month of September, marks the second consecutive drop in industry data, suggesting a weaker performance of the activity in this third quarter. Expectations for the sector are worsening, along with a weaker capacity utilization and a current situation that has reflected tightening financial conditions, affecting both domestic and foreign demand.
