São Paulo industry posts growth, says FIESP

RIO DE JANEIRO, BRAZIL – São Paulo’s processing industry posted a 2.6% growth in real sales between December and January, according to a Conjuncture Survey by the São Paulo Federation of Industries (FIESP) and the Center of Industries of the State of São Paulo (CIESP).

According to the report, there was a 2.7% increase in the hours worked in production for the 9th consecutive month. The installed capacity utilization level grew 0.8 percentage points (p.p), closing at 79.2% in January.

“Vaccination of the population is crucial to prevent a significant rise in the death curve and an even greater shutdown of the economy in the country, which is currently on the rebound. The progress towards full economic normalization due to vaccination should generate an acceleration in growth in the 2nd quarter,” says the note.

Sensor

According to the Sensor survey, São Paulo’s processing industry continued to grow in February, albeit slightly slower than over the past few months. The February Sensor indicator closed at 51 points, seasonally adjusted, a result above January’s (50.5 points). Figures over 50 points show an improvement in São Paulo’s industrial activity in the month.

The market conditions indicator rose from 47.4 points in January to 49.9 points in February, pointing to stable market conditions in the period.

Sales show continued growth by registering 52.1 points, compared to 52.2 points in January, pointing to an expected increase in sales in the month, compared to the previous one. The inventory level indicator dropped from 53.2 points in January to 50.8, nearing the desired level.

Source: Agencia Brasil