After a sluggish start in 2019, the auto industry had a busier February, growing as much as 9.17% – the highest since July 2018. Combined with a second month of strong growth in the use of energy by the electromechanical industry (+ 7.88%), this indicates a rally in economic activity in Brazil. Considering all 11 sectors monitored by the Comerc Index, energy expansion reached 2.89% in February, the best result since last October.
“February was marked by good news for the Brazilian automotive industry, which had a 29% increase in production compared to January, in addition to favorable mid- and long-term indicators. As a result, energy consumption reached the highest levels since the beginning of the second semester in 2018”, says Comerc Energia VP Marcelo Ávila.
February also shows consolidated momentum at the electromechanical industry, with higher energy consumption for the second consecutive month. After increasing 8.16% in January, Eletromechanical grew another 7.88% in February. “What is striking is the positive development found among all our customers in this industry — this confirms the sector is expanding production fast”, says Ávila.
In this landscape of economic recovery, the exception seems to be textiles, leather and apparel, where consumption shrank 1.49%. “The negative result was less dramatic than in January, but it is a trend we see now for the third month in a row. In the case of textiles, we identified a case similar to that of electromechanical industry, just the other way around. Several players in textiles show a negative bias in energy consumption, with no company standing out among the others”.
The monthly Comerc Energy Index considers the consumption of the approximately 1900 units under management, which belong to more than 910 industrial and commercial clients purchasing electricity in the free market.