Industry revenue rises 0.8% in September, shows CNI

Manufacturing industry revenue grew 0.8% in September, but the result only recovers part of the losses recorded in the previous two months. In July, the indicator fell 2.1% and, in August, it fell 3.8%. The data comes from Industrial Indicators, released by the National Confederation of Industry (CNI) this Wednesday (11).

From January to September 2026, revenue was stable compared to the same period last year. Other indicators also point to a scenario of weakening industrial activity, with a drop in employment and wages.

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• Revenue: increase of 0.8% in September;

• Installed capacity: increased from 77.1% to 77.3%;

• Hours worked: drop of 0.1%;

• Employment: decline of 0.3%;

• Wage bill: fall of 0.3%;

• Average income: increase of 0.1%.

Weakening

"The indicators show the continued weakening of industrial activity. Three main elements contribute to this: the high level of interest rates; the strong entry of imports, which capture part of the consumer market; and the increase in costs, which ends up putting pressure on prices", says CNI Policy and Industry specialist Larissa Nocko in a note.

Regarding interest, the economist reports that high rates put the population in debt, scare away investors and harm demand for industrial products.

Stable production

Installed Capacity Utilization (UCI) increased slightly by 0.2 percentage points in September, rising from 77.1% to 77.3%. According to the research, the variation indicates relative stability in the use of the industrial park.

In the first nine months of 2026, however, the use of installed capacity was 1.1 percentage points below that recorded in the same period of 2025.

The hours worked in production also showed little variation. The indicator fell 0.1% in September, while year-to-date it was 0.8% below the result observed between January and September 2025.

Falling employment

Indicators related to the industrial labor market also lost strength in September. Employment fell 0.3% compared to August and accumulates a decline of 0.5% in the first nine months of 2026.

The real wage bill, which represents the total paid to workers, fell 0.3% in the month. Despite the drop, the indicator still registers an increase of 1% in the comparison between January and September this year and the same interval in 2025.

The average income of industrial workers had a positive variation of 0.1%, a result considered to be relatively stable. Year-to-date, the indicator is 1.5% above that recorded in the first nine months of 2025.

In the CNI's assessment, the partial recovery in revenue was not enough to reverse previous losses. In relation to the job market, the results reinforce, in the entity's view, the slowdown in the industry.