Brazil: Manufacturing PMI ticks up in December
January 2, 2015
The Markit manufacturing Purchasing Managers’ Index (PMI) rose to 50.2 in December, which was up from the 48.7 tallied in November. The reading marked a four-month high. As a result, the PMI index is now just above the 50-threshold that separates expansion from contraction in business conditions in the manufacturing sector.
According to Markit, December’s figure came on the back of renewed increases in new orders and employment. In addition, job creation occurred for the first time in five months. Markit stated that, “this is the first above-50 reading since August, with firms reporting an increase in incoming orders and a smaller decline in output, but in our view, the outlook for the economy in 2015 remains weak.”