The Brazilian Institute of Geography and Statistics (IBGE) reported that nine of the 15 regions studied in the Regional Monthly Industrial Survey (PIM) showed a positive trend, increasing industrial production by 0.5% from October to November 2023.

According to IBGE data, there was a 0.5% increase in industrial production from October to November 2023. This is reported by
Brasil 247, a partner of TV BRICS.

Average income rose 2.3 per cent in the third quarter of last year, reaching R$3,034 (US$622). The state of Parana posted the highest income growth in November (5.4%), while the country’s main industrial centre, Sao Paulo, posted a 1.9% increase thanks to the pharmaceutical sector. Overall, industry is growing in twelve of the eighteen regions studied.

The oil products and biofuels, mining and pulp and paper sectors had the greatest impact on industrial production dynamics.

Last July, the government of President Luiz Inacio Lula da Silva announced the allocation of R$106 billion (US$21.7 billion) to lend to the industrial sector over the next four years.