Brazil: Manufacturing PMI edges down to five-month low in November
December 1, 2014
The Markit manufacturing Purchasing Managers’ Index (PMI) fell to 48.7 in November, which was down from the 49.1 tallied in October. The reading marked a five-month low. The PMI index is now further below the 50 threshold that separates contraction from expansion in business conditions in the manufacturing sector.
According to Markit, November’s figure was driven by decreases in both output and employment. In addition, inflationary pressures in input costs re-emerged, most likely as a result of the real’s depreciation in recent months. Markit stated that the print is, “reinforcing perceptions that the economy is losing momentum in the fourth quarter.”