*Brazilian business lobby group for the industrial sector, Confederação Nacional da Indústria (CNI), has released the latest edition of its ‘industrial indicators’ report, which showed the sector’s annual revenue in 2023 decreased by 1.3% compared to 2022, while the number of working hours by industrial sector workers dropped by 0.6%. Employment figures showed little annual variation, registering a slight increase of 0.3%. However, positive figures were registered for the total annual salary paid to industrial sector workers, which increased by 2.9%, and for the average salary per worker, up 2.6%. At the end of 2023, the national capacity utilisation rate (UCI) of the sector stood at 78.4%, in seasonally adjusted terms. According to the CNI report, the UCI has hovered around this figure for most of the second half of 2023 and it marks a 1.0 percentage point decrease from the UCI registered at the end of December 2022. The average UCI for 2023 dropped by 2.0 percentage points compared to the 2022 average.
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LatinNews Daily - 07 February 2024
In brief: Brazilian industrial lobby reports annual drop in revenue
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