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Financial News: Brazil Manufacturing Growth Strongest In 8 Months

Brazil Manufacturing Growth Strongest In 8 Months

06/01/2022 - 11:01:00 (RTTNews)

(RTTNews) - Brazil's manufacturing activity expanded at the fastest pace in eight months in May on robust growth in output and new orders, survey data from S&P Global showed on Wednesday.

The purchasing manager's index for the manufacturing sector rose to 54.2 in May from 51.8 in April. A reading above 50 suggests expansion in the sector.

New orders increased at the quickest pace since July 2021, boosted by strengthening demand conditions and new product launches.

In line with rising orders, firms enlarged their production at the strongest rate in ten months in May.

On-going improvements in sales, greater production requirements and stockpiling efforts underpinned a renewed expansion in input purchasing among Brazilian manufacturers, which marked the fastest rate of increase in eight months.

Meanwhile, both input and output prices increased at marked rates in May on the backdrop of energy price volatility, global shortages of inputs, China's lockdown and the war in Ukraine.

Looking ahead, manufacturers remained positive about output expectations for the next year. Upbeat growth projections boosted job creation in May, and employment rose at the fastest pace in seven months.

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