Manufacturing sector almost evaporated in December

The IHS Markit Brazil manufacturing purchasing managers index (PMI) came in at 50.2, a sharp drop from 52.9 in November and the slowest pace of expansion since July, almost to the point of stagnation. Employment shrank and new export orders slumped to their lowest in over a decade. “This indicates that the sector has only made a marginal contribution to economic growth in Q4,” said Pollyanna De Lima, principal economist at IHS Markit.

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Source: Reuters

Categories: Macroeconomy/Finance