Brazil: Manufacturing PMI dips further into the red, posts third month of contraction
July 1, 2014
The Markit HSBC manufacturing Purchasing Managers Index (PMI) fell to 48.7 in June, which was an inch down from the 48.8 tallied in May. June’s reading did represent the lowest print since July 2013. Therefore, the PMI index moved further below the 50 threshold that separates expansion from contraction in business conditions in the manufacturing sector.
According to Markit HSBC, June’s figure indicated the, “ongoing weakness in domestic demand.” All the three market groups recorded lower readings in June, with the sharpest deterioration recorded in the production of intermediate goods.