Brazil: Manufacturing PMI edges down in March
April 1, 2019
Conditions in Brazil’s manufacturing sector appear to have weakened somewhat in March. The manufacturing Purchasing Managers’ Index (PMI) fell from an 11-month high of 53.4 in February to 52.8 in March. Despite the drop, the PMI is still above the crucial 50-threshold, signaling expansionary conditions.
March’s print reflected slower growth in new orders and employment than in February. Orders from abroad dropped for the fourth consecutive month and jobs were added at a modest pace. On the price front, input cost inflation edged higher, chiefly due to a weaker real.