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The National Federation of Industry (CNI) reported yesterday (18) that the real revenue of the manufacturing industry showed an increase of about 1.4% in November compared to October 2022. In relation to the salary mass, there was an increase of 1%, which reversed the decrease of 0.5% from the previous month.
With this result, the revenue accumulates the second consecutive month of significant growth. 9.9% was the revenue compared to November 2021. These figures refer to the seasonally adjusted series, which excludes the effects of seasonal variations and the dataset. The data reported are from the publication Industrial Indicators, produced by the CNI.
Additionally, from the revenue of the manufacturing industry, there were also slight increases in mid-November, compared to October, in the real salary mass indices of manufacturing industries and the real average earnings of employees. Related to the salary mass, there was growth of 1%, which reversed the decrease of 0.5% from the previous month.
In comparison to November 2021, the growth of this salary mass was about 6.8%.
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The real earnings of workers in the industry also advanced about 1% in mid-November 2022, compared to October, in seasonally adjusted series. However, earnings reversed the decrease from the previous month and are attempting to reach the highest point since August 2020, in an upward trend for the last 12 months. Compared to November 2021, their earnings show advances of 6.0%.
Stability
They remained stable in November, according to the survey conducted by the CNI. These include the utilization of installed capacity and the index of hours worked in production, of industrial employment. Studies indicated that in the case of hours worked, they remained practically stable during November last year, compared to October of the same year, recording an increase of about 0.1% in the seasonally adjusted series.
“It is worth noting that in September 2022, the index interrupted the growth trend that had been present since mid-2021. Compared to November 2021, there is a growth of 1.3%,” states the publication. Regarding industrial employment, variations were also about 0.1% in November compared to October.
For the CNI, this recent behavior reinforces the accommodation of growth rates of employment, which registered successive increases between the second half of 2020 and the second half of 2022. Compared to November 2021, the increase was about 0.8%.
The utilization of installed capacity (UIC) in this industry showed similar performances during the same period, with variations of 0.1 percentage points (p.p.), compared to October, remaining around 80.3% in the seasonally adjusted series.
“The advance occurs after a slight downward trend that has been observed since the end of 2021. Despite this UIC trend, the indicator has been above 80% since March 2021. Compared to November 2021, the indicator shows a decrease of 1.0 p.p.,” informs the CNI.
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