Brazil: Manufacturing PMI hits highest reading since September 2021 in May
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 54.2 in May, up from April’s 51.8. May’s result marked the strongest reading since September 2021. As such, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in business conditions compared to the previous month.
May’s uptick was driven by faster growth in output and new orders, an upturn in input purchasing and the fastest pace of job creation in seven months. Meanwhile, cost pressures intensified amid China’s Covid-19 restrictions and the war in Ukraine.