Industry turnover in Brazil in August exceeds pre-pandemic period - Plataforma Media

Industry turnover in Brazil in August exceeds pre-pandemic period

The turnover of Brazilian industry in August exceeded the levels reached at the beginning of the year, before the restrictions imposed in March due to the pandemic, with a recovery of employment in the sector, according to official sources.

According to a study published on Tuesday by the National Confederation of Industry (CNI), in August, the invoicing of the manufacturing industry grew 2.3% in relation to July and 37.8% compared to April, when it was in full peak the crisis caused by the new coronavirus.

However, due to the strong drop registered in the sector between March and April, sales revenue between January and August is 3.9% below the value registered in the same period of 2019.

According to the study, industrial employment registered the first growth of the year, with an increase of 1.9% in August, approaching the level it had before the crisis. In the month, the number of hours worked increased by 2.9%.

Although the wage bill increased by 4.5% in August, compared to July, it is still far from reaching the levels of the beginning of the year, since many companies have adhered to measures to preserve jobs, such as reducing the workday or suspension of contracts.

The positive results were also observed in the use of production capacity, which reached 78.1% in August and is only 0.8 percentage points below that registered in February.

“It is important that the increase in activity has been accompanied by growth in employment, which suggests greater confidence in the entrepreneur,” said the manager of Economic Analysis at CNI, Marcelo Azevedo, cited in the report.

For Azevedo, the numbers reinforce the perception of a rapid recovery in the country’s industrial activity.

In August, Brazilian industrial production grew 3.2% in relation to July, the fourth consecutive month on the rise, according to the Brazilian Institute of Geography and Statistics (IBGE).

However, the figures still fail to reverse the sector’s collapse of almost 27% between March and April, caused by the new coronavirus pandemic.

Brazil is the Portuguese-speaking country most affected by the pandemic and one of the hardest hit in the world, when counting the second number of deaths (more than 4.9 million cases and 147,494 deaths), after the United States.

The covid-19 pandemic has already claimed more than one million and forty-five thousand deaths and more than 35.5 million cases of infection worldwide, according to a report made by the French agency AFP.

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