São Paulo Industrial Index has 3.2% high
DCI 05/14/2009
The industrial production of São Paulo in the month of April should increase 3.2% compared to the previous year, according to the São Paulo Industrial Index (SPI), released yesterday by the Getúlio Vargas Foundation (FGV). In March, the index had a 6.2% increase compared to February, in the series with seasonal adjustment, and the production of the State of São Paulo presented growth of 1% in that month, in the same comparison basis, according to official data of the IBGE (Brazilian Institute of Geography and Statistics). The purpose of the index, elaborated through a partnership between the FGV and AES Eletropaulo, is to anticipate the trends of the industrial activity in the State of São Paulo.
In an announcement, the institutions also informed that, in the comparison with the same month of last year, the SPI registered a 13.3% fall in April of this year. Besides that, in the series with seasonal adjustment, the SPI had a fall of 0.6% in April compared to March. The FGV and AES Eletropaulo also said that, in the comparison between the last 12 months until April the 12 months immediately before that, ending in March, the SPI rate would be negative, of 2.7%, and such a fall would be the strongest in this kind of comparison since September 2002, when the SPI fell 3%.The results shown by the SPI of April in São Paulo changed little the evaluation on the current stage of the industry and on the situation expected for the rest of this year for the sector. The analysis was made by the FGV researcher of the Brazilian Institute of Economy (Ibre), Paulo Picchetti, who, in an interview to Agência Estado, emphasized the survey published by the institute brought back the image of the local industry trying to recover from the fall occurred in the end of 2008, after the global crisis.