The S&P Global Brazil Manufacturing PMI came in at 47.8 in July of 2023, up from 46.6 in the previous month, but marking the ninth consecutive contraction in Brazilian factory activity. Still, the rate of decline was the smallest in five months. Both new orders and output continued to fall, due to subdued demand, although the declines were moderate and the slowest since February. As a result, firms cut employment numbers and buying activity. In turn, the combination of weak demand for raw materials and enhanced supplier availability led to a sharp and unprecedented decline in input costs. Consequently, Brazilian goods experienced their fourth consecutive price reduction, with the most substantial rate of discounting observed since June 2009. Looking ahead, manufacturers were more optimistic towards growth prospects, mainly due to forecasts that tamed inflation would underpin cuts to interest rates. source: Markit Economics

Manufacturing PMI in Brazil averaged 50.26 points from 2012 until 2023, reaching an all time high of 66.70 points in October of 2020 and a record low of 36.00 points in April of 2020. This page provides the latest reported value for - Brazil Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brazil Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in Brazil is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Manufacturing PMI is projected to trend around 55.00 points in 2024, according to our econometric models.

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Brazil Manufacturing PMI



Related Last Previous Unit Reference
Services PMI 50.20 53.30 points Jul 2023
Manufacturing PMI 47.80 46.60 points Jul 2023
Composite PMI 49.60 51.50 points Jul 2023

Brazil Manufacturing PMI
In Brazil, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
Actual Previous Highest Lowest Dates Unit Frequency
47.80 46.60 66.70 36.00 2012 - 2023 points Monthly
SA

News Stream
Brazil Factory Activity Dips for 9th Month
The S&P Global Brazil Manufacturing PMI came in at 47.8 in July of 2023, up from 46.6 in the previous month, but marking the ninth consecutive contraction in Brazilian factory activity. Still, the rate of decline was the smallest in five months. Both new orders and output continued to fall, due to subdued demand, although the declines were moderate and the slowest since February. As a result, firms cut employment numbers and buying activity. In turn, the combination of weak demand for raw materials and enhanced supplier availability led to a sharp and unprecedented decline in input costs. Consequently, Brazilian goods experienced their fourth consecutive price reduction, with the most substantial rate of discounting observed since June 2009. Looking ahead, manufacturers were more optimistic towards growth prospects, mainly due to forecasts that tamed inflation would underpin cuts to interest rates.
2023-08-01
Brazil Factory Activity Sinks for 8th Month
The S&P Global Brazil Manufacturing PMI fell to 46.6 in June of 2023 from 47.1 in the previous month, marking the eighth consecutive contraction in the Brazilian factory activity. New orders fell for a ninth straight month, underscoring low domestic and foreign demand as surveyors highlighted difficult market conditions. Consequently, production continued to shrink, dragged down by a sharp decline in the production of intermediate goods. Meanwhile, factories continued to shed jobs in the period, citing spare capacity in the production stream. Still, eased supply constraints and lower commodity prices coincided with poor demand conditions to drive a considerable decrease in output charges. Looking forward, firms signaled some optimism toward growth prospects despite the tough current conditions.
2023-07-03
Brazilian Factory Activity Contracts for 7th Month
The S&P Global Brazil Manufacturing PMI came in at 47.1 in May of 2023, up from 44.3 in April and above market forecasts of 45.6. Still, it marked the 7th consecutive month of contraction in Brazilian factory activity, amid weak demand due to elevated borrowing costs and policy uncertainty. Both new orders and output continued to shrink solidly, although the rate of decline eased. Employment fell only slightly, and to the least extent in three months. More positively, adverse demand conditions and high stock levels among vendors resulted in a record improvement in supplier delivery times. On the price front, price pressures dissipated, with input costs decreasing for only the third time in close to nine years, attributed to better exchange rates (particularly against the US dollar) and enhanced conditions in logistic networks. As a result, firms lowered prices charged for Brazilian goods. Looking ahead, the overall level of positive sentiment improved to an eight-month high in May.
2023-06-01