Brazil: Manufacturing PMI inches down in November
December 1, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) fell slightly in November, decreasing from October’s 46.3 to 46.2. The PMI remains below the 50-threshold that separates contraction from expansion in business conditions in the manufacturing sector as the Brazilian economy lingers in a deep recession.
According to IHS Markit, fewer new orders were reported and firms’ reduced output and shed jobs in November. Purchasing activity also declined, falling at the sharpest rate since May. Commenting on the result, IHS Markit analysts added that, “the contraction in Brazilian manufacturing output now stretches to almost two years, and there was little, if any, from the November’s PMI survey to suggest an imminent upturn is in sight.”