Brazylia - Przemysłowy PMI

The IHS Markit Brazil Manufacturing PMI rose to 52.9 in November 2019 from 52.2 in the previous month and matching market expectations. The latest reading pointed to a stronger expansion in the factory sector, as output increased for the fourth consecutive month and at the fastest pace since March last year led by intermediate goods makers. Also, new orders advanced further amid strong demand and the job creation rate rose marginally. Meantime, both pre- and postproduction inventories dropped mainly due to the use of materials in the production process and longer lead times. On the price front, input cost inflation slowed and output price inflation moderated. Lastly, sentiment improved to a seven-month high amid expectations regarding the approval of public reforms, higher sales, better economic conditions, investment and product diversification.

The IHS Markit Brazil Manufacturing PMI dropped to 52.2 in October 2019 from 53.4 in the previous month, slightly above market consensus of 51.9. Production and new order growth remained solid despite a decline in external sales, mainly due to demand weakness in Argentina and Paraguay. Employment was broadly stable while purchasing activity expanded. Stocks of purchases fell at the quickest rate in 16 months amid a solid increase in supplier delivery times. On the price front, input cost inflation was at a five-month high. Looking ahead, a strong degree of optimism was sustained.

The IHS Markit Brazil Manufacturing PMI increased to 53.4 in September 2019 from 52.5 in the previous month and above market expectations of 51. The latest reading pointed to the strongest expansion in factory activity since November 2017, as both new orders and production increased at the fastest rates in one-and-a-half years. Also, job creation rose the most in seven months. On the price front, both input cost and output cost increased at the rate in three months. Finally, sentiment towards growth prospects was elevated in the context of historical survey data, despite falling slightly from August.

The IHS Markit Brazil Manufacturing PMI increased to 52.5 in August 2019 from 49.9 in the previous month. The latest reading pointed to the strongest expansion in factory activity in five months, as new orders advanced at the fastest pace in nearly a year-and-a-half amid better demand conditions, launch of new products and the securing of extra clients. Also, new export orders went up marginally and the job creation rate rose mainly due to an improvement in demand. On the price front, input cost inflation slowed amid reports of successful price negotiation with vendors and the sourcing of different suppliers and output prices advanced at the softest in almost two years. Finally, sentiment increased to a four-month high, driven by better economic conditions outlook, favourable public policies, product diversification and investment.

The IHS Markit Brazil Manufacturing PMI fell to 49.9 in July 2019 from 51 in June and against market consensus of 50.6. The reading pointed to the first contraction in factory activity since June last year. Output shrank for the first time in over a year, amid subdued demand as well as political and economic troubles. Also, job cuts were seen for the third month running, with firms citing cashflow problems, outsourcing, resignations and weak demand. Meanwhile, new orders grew for the second straight month, mainly supported by the domestic market. Exports, however, fell for the eight consecutive month and at a solid pace, as demand from emerging markets such as Argentina and Paraguay weakened. Regarding prices, input inflation was at a six-month low, mainly due to lower diesel prices; and output charges rose the least in 22 months. Finally, business confidence fell to a 21-month low, on worries about tax burdens, elevated unemployment and challenging economic conditions.

The IHS Markit Brazil Manufacturing PMI rose to 51 in June 2019 from 50.2 in the previous month. The latest reading pointed to a stronger expansion in factory activity, as output increased at a faster pace and new work advanced mainly driven by the domestic market. Also, input purchasing rose amid efforts to rebuild stocks. On the other hand, new export orders shrank at the steepest rate in 29 months and employment continued to drop. On the price front, input cost inflation slowed to a three-month low, still remaining sharp due to US dollar appreciation while output price inflation accelerated to an eight-month high. Finally, sentiment improved boosted by new contract outlook, product diversification and structural reforms to aid output growth in the next 12 months.