Brazil: Manufacturing PMI falls into contraction territory
October 1, 2014
The Markit manufacturing Purchasing Managers’ Index (PMI) fell to 49.3 in September, which was down from the 50.2 tallied in August. The PMI index is now just below the 50 threshold that separates contraction from expansion in business conditions in the manufacturing sector.
According to Markit, September’s figure was driven by decreases in both output and new orders. In addition, input and output prices decreased simultaneously for the first time in over five years. Markit stated that the figure was the result of, “the generally depressed state of the market and the upcoming election.”