Brazil's industrial output in 2022 to fall by 0.7% year-on-year

　　China News Agency, Sao Paulo, February 3 (Reporter Mo Chengxiong) According to data released by the Brazilian National Geographic and Statistics Bureau on the 3rd local time, Brazil's industrial output value in 2022 will drop by 0.7% year-on-year.

This is the first time the country's industrial output has contracted after growing 3.9% year-on-year in 2021.

　　Compared with 2021, 17 of the 26 industries surveyed in Brazil will see declines in 2022, the data show.

Among them, the mining industry dropped by 3.2%, which had the greatest negative impact on Brazil's industrial production.

This was followed by a decrease of 12.8% in textile products, 8.4% in machinery and equipment, 5.7% in rubber and plastic products, and 5% in metallurgy.

However, coke, petroleum products and biofuels rose 6.6 percent, auto manufacturing rose 3 percent and food rose 2.4 percent.

　　Among the four categories of industrial products, durable consumer goods fell by 3.3%, intermediate products by 0.7%, capital goods by 0.3%, and semi-durable and non-durable consumer goods by 0.2%.

　　The data also shows that after seasonal adjustment, in December 2022, Brazil's industrial output value will remain stable at zero month-on-month growth, but will fall by 1.3% year-on-year.

Compared with the same period in 2021, Brazil's industrial output in the fourth quarter of 2022 will increase by 0.5% year-on-year.

　　André Macedo, a researcher at the Brazilian National Institute of Geography and Statistics, said that the reasons for the contraction of Brazil's industrial output in 2022 include factors such as rising interest rates, high inflation and high unemployment, which directly affect the cost of credit and household income. , thereby affecting consumption.

In December 2022, Brazil's industrial output value is still 2.2% lower than the level before the outbreak of the new crown epidemic in February 2020, and 18.5% lower than the record high in May 2011.

　　In 2019 and 2020, Brazil's industrial output value will decrease by 1.1% and 4.5% year-on-year respectively.

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