The country’s primary and most diversified industrial hub accounts for approximately 33% of the national industrial output
09/13/2024
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Over 12 months through July, Brazil’s overall industrial production rose by 2.2% — Foto: Rogerio Vieira/Valor
Following a cumulative increase of 4.1% over three consecutive months, São Paulo’s industrial production fell by 1.8% in July compared to the previous month, according to the Monthly Regional Industrial Survey (PIM Regional) released recently by the Brazilian statistics agency IBGE.
São Paulo is the leading and most diversified industrial hub in Brazil, contributing about 33% to the national industrial output. This decline significantly impacted the overall performance of Brazil’s industry in July, which saw a decrease of 1.4%.
“The 1.8% drop, exceeding the national average, partially offset the accumulated growth from the previous period. The pharmaceutical sector negatively influenced São Paulo’s production output,” said Bernardo Almeida, who leads the survey.
Despite the decline, São Paulo’s industrial production remains 2.2% above pre-pandemic levels.
Compared to July 2023, São Paulo’s industrial sector grew by 5.4%, which is below the national average growth rate of 6.1%. For the year up to July, the growth was 4.7% in São Paulo and 3.2% across Brazil.
Over the 12 months leading up to July, São Paulo’s industrial production increased by 2.5%, while Brazil’s overall industrial production rose by 2.2%.
*Por Lucianne Carneiro, Valor — Rio de Janeiro
Source: Valor International