NNPC records decline in oil, gas output in July as disruptions hit operations

Brazilian industrial production rebounded slightly in July, marking an end to two months of decline. The sector experienced a modest growth of 0.2 percent from June to July, according to the latest data released by the Brazilian Institute of Geography and Statistics (IBGE). This resurgence brings the sector's total increase to 1.1 percent for the year 2026, and a 0.6 percent expansion over the past year.

However, when compared to the same month in 2025, the country's industrial output saw a decline of 0.5 percent. The quarterly moving average, which tracks the sector's recent trends, contracted by 0.8 percent. The data was unveiled in a monthly industrial survey, published on August 2. Notably, this 0.6 percent increase represents a minor slowdown when compared to the 0.7 percent cumulative growth through June 2026.

The survey revealed that three out of four main economic categories saw growth from June to July: durable consumer goods by 3.2 percent, capital goods by 2.4 percent, semi-durable and non-durable consumer goods by 0.5 percent, and intermediate goods by -0.2 percent. The diffusion index, which reflects the percentage of surveyed products posting positive performance, stood at 69.6 percent. This is the second highest figure of the year, trailing only March's 80.6 percent.