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Brazil PMI March 2022

Brazil: Manufacturing PMI jumps to expansionary territory in March

The S&P Global Purchasing Managers’ Index (PMI) climbed to a six-month high of 52.3 in March, up from February’s 49.6. Consequently, the index broke through the 50-threshold, pointing to a solid improvement in business conditions from the prior month.

March’s upturn was driven by strengthening demand, which supported new orders in turn. Additionally, output rose for the first time since September 2021. While businesses’ confidence levels deteriorated—due to elevated uncertainty over price pressures, material shortages and the war in Ukraine—firms remained upbeat with regard to output expectations for the year ahead. In March, price pressures picked up pace on a strong USD and input material shortages, stemming from renewed lockdowns in China and the conflict in Europe. Lastly, employment levels rose in March due to firming domestic demand, as foreign demand softened, dragging on new export orders.

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