Financial News: Brazil Manufacturing Growth Rebounds In September

Brazil Manufacturing Growth Rebounds In September

10/01/2024 - 10:08:00 (RTTNews)

(RTTNews) - The Brazilian manufacturing growth accelerated in September after losing some momentum in the previous month, survey data from S&P Global showed on Tuesday.

The purchasing managers' index, or PMI, for the manufacturing sector rose to 53.2 in September from 50.4 in August. A score above 50 indicates expansion.

The solid growth in September was driven by a renewed increase in production, stronger job creation, and a pickup in sales growth. New export orders also rose somewhat on the back of noted gains from Africa, Asia, Latin America, and Europe.

Manufacturing employment grew at a quicker rate, fuelled by tech investment, demand resilience, and an increased need for skilled workers.

The survey revealed that as firms increased their input purchases, supplier pressure increased, and lead times grew to their longest point in more than two years.

On the price front, input price inflation remained sharp in September amid reports of input demand exceeding supply, currency depreciation, and rising transportation costs. As a result, selling prices also increased at the fastest rate since mid-2022.

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