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Financial News: Brazil Factory Growth Continues In September

Brazil Factory Growth Continues In September

10/02/2017 - 09:34:00 (RTTNews)

(RTTNews) - Brazil's manufacturing sector continued to expand in September, underpinned by the ongoing upturn in new work, survey data from IHS Markit showed Monday.

The Manufacturing Purchasing Managers' Index showed a reading of 50.9 for September, unchanged from August. A score above 50 suggests growth in the sector.

Companies scaled up production at the quickest pace in four months encouraged by the increased demand from both domestic and foreign markets. New work and output grew for a seventh successive month, with the latter rising at the fastest rate since May for a second time in a row.

Production growth was broad-based with expansions in the consumer, intermediate and investment good categories.

Outstanding business declined at a strong rate, but the pace of job shedding was modest, similar to those seen in the past two months. Meanwhile, employment grew at consumer goods producers for the first time since February 2015.

Input price inflation hit a six-month high in September, while competitive pressures and efforts to secure new work led to only a modest rise in output prices.

Business confidence rebounded from a 16-month low as manufacturers expect product diversification, the economic recovery and investments in machinery to support output growth in the year ahead.

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