Brazil: Manufacturing PMI falls slightly in December from November’s nearly seven-year high
Conditions in Brazil’s manufacturing sector weakened slightly in December. The Markit manufacturing Purchasing Managers’ Index (PMI) fell from November’s 81-month high of 53.5 to 52.4 in December. Despite the fall, the PMI lies above the crucial 50-threshold that separates expansion from contraction in business conditions in the manufacturing sector.
According to IHS Markit, the index’s fall was attributed to slower expansions in output growth and new business inflows. Despite a softening of growth, both indicators pointed to still solid momentum in the manufacturing industry. In addition, the pace of job creation edged up, to the fastest growth rate in almost five years. For Q4 as a whole, the PMI recorded the best reading since Q1 2013, suggesting that the recovery is gaining momentum.