Home »Business and Economy » World » Brazil manufacturing activity keeps momentum in December

  • News Desk
  • Jan 3rd, 2018
  • Comments Off on Brazil manufacturing activity keeps momentum in December
Brazil's manufacturing activity maintained momentum in December as hiring reached a 5-year high, a private survey showed on Tuesday. The Purchasing Managers' Index compiled by market research firm Markit eased to a seasonally adjusted 52.4 from 53.5 in November, which had been the highest reading in six years.

Figures above the 50 threshold indicate improving business conditions for manufacturers. The report suggests manufacturers ended 2017 in a high note, adding fuel to the economic recovery. It should also bolster the outlook for a gradual recovery in Brazil's labor market.

Strong demand at home and abroad drove firms to increase output for the tenth straight month, expand capacity, and add workers for the third month in a row. "December rounded off a vigorous quarter for manufacturers, with the average PMI reading being the highest since the first quarter of 2013," Markit economist Pollyanna De Lima said.

"This suggests that the sector is likely to have provided a stronger contribution to GDP in the final quarter of 2017 than seen recently."

Copyright Reuters, 2018


the author

Top
Close
Close