Brazil PMI July 2018


Brazil: Manufacturing PMI rises into expansionary territory in July

August 1, 2018

Conditions in Brazil’s manufacturing sector improved in July, recovering after the truckers strike dented economic momentum in June. The manufacturing Purchasing Managers’ Index (PMI) rose from 49.8 in June, the worst result since March 2017, to 50.5 in July. As a result, the PMI lies above the crucial 50-threshold and in expansionary territory.

The rebound in the index was attributed to renewed growth in output, new orders and employment. That said, the upturn in new orders was modest and constrained by falling orders from abroad. Meanwhile, business confidence dipped to a nine-month low amid concerns over the political and economic environment. Regarding inflation, the depreciation of the real caused price pressures to rise sharply in July.

Brazil Industrial Production Forecast

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production growing 3.2% in 2018, which is unchanged from last month's estimate. In 2019, industrial output is expected to grow 3.6%.


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Brazil PMI Chart

Brazil PMI July 2018

Note: Markit Brazil Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: IHS Markit.

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