“…Our paper connects to the literature on measuring and analyzing business cycles in Brazil (see, for example, Chauvet, 2000;Picchetti and Toledo, 2002;Issler, Notini, and Rodrigues, 2009;Hollauer, Issler, e Notini, 2009;Morais and Chauvet, 2011;Oliveira, 2016;Campelo Jr., Issler and Pimentel, 2019;Ozyildirim, Sima-Friedman, Picchetti, and Lima, 2019). Specifically, we contribute to a more scarce literature that measures and analyzes cyclical aspects of specific sectors and industries, which has been done for industrial activity (Hollauer, Issler, and Notini, 2009), the capital goods industry (Chauvet and Morais, 2011), and the construction sector (Cruz and Colombo, 2018).…”