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Brazil PMI January 2024

Brazil: Manufacturing PMI rises in January

The S&P Global Brazil Manufacturing Purchasing Managers’ Index (PMI) improved to an 18-month high of 52.8 in January from 48.4 in December. As a result, the index broke through the 50.0 no-change threshold and signaled an improvement in manufacturing sector operating conditions compared to the previous month.

The improvement was driven by increased sales, which led to a rebound in output and stronger growth in job creation. Turning to prices, input cost inflation softened despite supply-chain pressures. Lastly, manufacturers’ sentiment improved to an over three-year high despite supply chain pressures and tensions in the Red Sea. Falling interest rates, lower price pressures and new product releases underpinned the improvement.

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