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Financial News: Brazil Factory Growth Momentum Remains Strong In December

Brazil Factory Growth Momentum Remains Strong In December

01/02/2018 - 07:17:00 (RTTNews)

(RTTNews) - Brazil's manufacturing growth sustained its robust growth momentum at the end of 2017, underpinned by improvements in business conditions and strong business confidence, survey data from IHS Markit showed Tuesday.

The purchasing managers' index for Brazilian manufacturing fell to 52.4 in December from November's 81-month peak of 53.5, the survey showed. A reading above 50 suggests growth in the sector.

Increase in output and new orders for a tenth successive month boosted business conditions and led to more hiring.

Input price inflation remained sharp despite easing in December. Consequently, output prices were raised.

For the final quarter of 2017, the average PMI reading was 52.3, which was the highest score since the first quarter of 2013.

"December rounded off a vigorous quarter for manufacturers, with the average PMI reading being the highest since Q1 2013," IHS Markit economist Pollyanna De Lima said.

"This suggests that the sector is likely to have provided a stronger contribution to GDP in the final quarter of 2017 than seen recently."

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