Brazil: Manufacturing PMI rises in August
September 1, 2017
Conditions in Brazil’s manufacturing sector improved mildly in August. The Markit manufacturing Purchasing Managers’ Index (PMI) rose from 50.0 in July to 50.9 in August. As a result, the PMI lies further above the crucial 50-threshold that separates expansion from contraction in business conditions in the manufacturing sector.
According to IHS Markit, orders from abroad soared in August and grew at the fastest pace since April 2016. A stronger inflow of new work helped bolster output and purchasing activity, driving the upturn in the sector. However, firms continued to shed jobs, albeit at a less pronounced rate than in July. Meanwhile, the turbulent political scene in the county is taking a toll on business sentiment, which fell to a 16-month low.