Brésil - PMI composite

The IHS Markit Brazil Composite PMI was at 51.8 in November 2019, unchanged from the previous month. Manufacturing output rose (PMI at 52.9 vs 52.2 in October) while services activities growth slowed to a five-month low (PMI at 50.9 vs 51.2 in October). Overall, new orders increased at the softest pace in five months, and the job creation rate eased to a four-month low. On the price front, both input and output cost inflation slowed. Finally, sentiment improved to a three-month high and was above the series average.

The IHS Markit Brazil Composite PMI dropped to 51.8 in October 2019 from 52.5 in the previous month, pointing to weaker growth in the country's private sector. Both services activity and manufacturing output advanced at softer rates. Overall new work rose the most in seven months, business activity and employment increased further, while optimism strengthened from September.

The seasonally adjusted IHS Markit Brazil PMI Composite Output Index increased to 52.5 in September 2019 from 51.9 in the previous month. The reading pointed to the strongest expansion in the private sector since March, as both manufacturing output rose to a nearly two year high (PMI at 53.4 vs 52.5 in August) and the services activity advanced (PMI at 51.8 vs 51.4 in August). New orders accelerated and the job creation rate went up at the sharpest pace in over four-and-a-half years. On the price front, input and output cost inflation increased. Finally, sentiment weakened linked to downward revisions to growth projections in the manufacturing and service sectors.

The seasonally adjusted IHS Markit Brazil PMI Composite Output Index rose to 51.9 in August 2019 from 51.6 July. The latest reading pointed to the fastest expansion in the private sector since March, as manufacturing output rebounded (PMI at 52.5 from 49.9) while services activity growth eased (PMI at 51.4 from 52.2 in July). New work went up at the steepest pace in five months, with rates of expansion in the manufacturing and service sectors picking up to 17- and four-month highs respectively. New export orders rose in factory activity while in the services sector dropped. Additionally, employment increased in both sectors. On the price front, input price inflation was unchanged while output cost inflation increased. Looking ahead, confidence declined from July's series peak.

The seasonally adjusted IHS Markit Brazil PMI Composite Output Index rose to 51.6 in July 2019 from 49 in the prior month. The reading pointed to a modest expansion in private sector output that was the fastest since March, after two straight months of contraction. Services activity drove the upturn (PMI at 52.2 from 48.2 in June) while manufacturing output shrank (PMI at 49.9 from 51.0). New orders increased for the thirteenth month in a row, mainly led by services. Meanwhile, employment declined across both sectors, with the rate of job shedding stronger at goods producers. Regarding prices, input price inflation moderated to a six-month low and, consequently, slower rates of output price inflation were evident in both sectors. Lastly, confidence improved as upbeat sentiment among service providers to a 69-month high offset a decrease in optimism among goods producers to a 21-month low.

The seasonally adjusted IHS Markit Brazil PMI Composite Output Index increased to 49 in June 2019 from 48.4 in May. The reading pointed to the second contraction in the private sector, as the services activity shrink for the third consecutive month (PMI at 47.8 from 49.9) while manufacturing output rose (PMI at 51 from 50.2). Payroll numbers declined across both sectors with the job shedding rate at the fastest since August last year. Additionally, backlogs of work dropped at the softest pace in four months. On the price front, input cost inflation slowed to a 4-month low in June while output price inflation went up to the strongest pace in three months. Lastly, confidence improved as upbeat sentiment among goods producers offset a mild waning of optimism at services providers.