Financial News: Brazil Manufacturing Growth Strongest In 33 Months

Brazil Manufacturing Growth Strongest In 33 Months

05/02/2024 - 10:27:00 (RTTNews)

(RTTNews) - Brazil's factory activity expanded at the fastest pace in more than two-and-a-half years in April amid buoyant demand conditions, survey data from S&P Global showed on Thursday.

The purchasing managers' index, or PMI, for the manufacturing sector rose to 55.9 in April from 53.6 in March. A score above 50 indicates expansion.

The largest increase in new business intakes in nearly three years boosted output levels and employment in April, the survey said.

On the price front, input price inflation accelerated to a 20-month high in April amid higher commodity and transportation costs, shortages of certain inputs, and crop failure. Consequently, selling price inflation reached its highest level in twenty months.

Pressures from the supply side were also reflected in a recent decline in vendor performance, linked to shipment delays and shortages of key items at vendors.

Firms raised their staffing numbers at the fastest rate in 21 months amid growing business confidence. Improved demand, investment in capacity, ongoing reductions in interest rates, and product diversification pushed optimism to a three-month high.

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