Brazil's manufacturing sector records growth in four out of six indicators

In January 2024, indicators in the manufacturing sector improved compared to December 2023. This is evidenced by the Industrial Performance Survey prepared by the National Confederation of Industry (CNI).

According to the monthly survey, the number of hours worked, employment, wages and salaries and average income of workers in industry increased in January 2024 compared to December 2023 and the same period last year. Real turnover and capacity utilisation rates remained stable.

According to industrial indicators, hours worked increased by 0.4 per cent in January 2024 compared to December 2023. This is the third consecutive month of growth. In addition, the number of hours worked in manufacturing increased 0.8 per cent from the same period last year. This is reported by Brasil 247, a partner of TV BRICS.

Another index that increased for the third consecutive month is real average earnings, which rose 0.6 per cent.

Employment and wages also increased in 2024 – manufacturing employment rose 0.3 per cent from December 2023 to January 2024.

The payroll index increased 2.0 per cent over the year on a seasonally adjusted basis.

After remaining flat from May to October 2023, the payroll index increased 5.5 per cent from November to January. An increase of 6.2 per cent was also seen when compared to January 2023.

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