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Brazil PMI April 2021

Brazil: Manufacturing PMI hits ten-month low in April

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) edged down to 52.3 in April from March’s 52.8, marking the worst reading since June last year. As such, the index remained above the 50-threshold, indicating an improvement in business conditions from the previous month; However, it hinted at slowing momentum.

April’s result chiefly came on the back of falling new business, which contracted for the second month straight in April—albeit at a softer pace than in March. Consequently, manufacturers lowered production, but only marginally. That said, employment rose at the outset of Q2 as firms projected improving economic conditions in the medium-term. Meanwhile, business sentiment increased from the previous month, surpassing its long-term average amid a more positive outlook. On the price front, input cost inflation rose in April, largely owing to material shortages and currency weakness against the U.S. dollar, while output charges rose sharply as firms raised their selling prices.

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