Brazil São Paulo industry posts drop in sales in September over August
RIO DE JANEIRO, BRAZIL – In September, average salaries also fell by 1.2%. In the third quarter, the reduction in average salaries reaches 3.2%.
However, in October the industrial activity indicator as measured by FIESP rose from 49.2 points in September to 52.9. In the index, results above 50 points mean an improvement in industrial activity and lower than this level indicate a deterioration.
According to the Federation, industries are struggling with production challenges, such as the increase in energy prices and the difficulty in supplying some segments. In addition, rising consumer inflation and interest rates may also hinder recovery.
On the other hand, the economic reopening enabled by the progress in vaccination, with the end of most restrictions against the spread of Covid-19, and the increase in exports should have a positive impact on sales and production. According to FIESP, the result of industrial activity in the coming months will depend on the behavior of all these factors.
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