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Financial News: Brazil Manufacturing Activity Expands Most In 18 Months

Brazil Manufacturing Activity Expands Most In 18 Months

02/01/2024 - 09:04:00 (RTTNews)

(RTTNews) - Brazil's factory activity expanded at the fastest pace in one-and-a-half years in January, boosted by a renewed rise in new orders, survey data from S&P Global showed on Thursday.

The purchasing managers' index, or PMI, for the manufacturing sector rose to 52.8 in January from 48.4 in November.

A score above 50 indicates expansion, while any reading below 50 suggests a contraction in the sector.

New orders grew for the first time in five months in January and at the quickest pace in eighteen months amid better demand conditions in the domestic market.

Consequently, firms lifted production volumes to the greatest extent since mid-2022.

On the price front, input cost inflation softened to one of the weakest rates seen in nearly ten years despite rising supply-chain pressures, partly owing to tensions in the Red Sea. Factory gate charges rose modestly.

Tensions in the Red Sea and the late arrival of imports from China caused the greatest incidence of delivery delays since August 2022.

During January, job creation strengthened while the growth of input purchasing was reinstated.

Manufacturers remained confident about their production outlook as the level of sentiment climbed to the highest in over three years.

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