Brazil’s PMI partially rebounds in June
The Purchasing Managers’ Index in Brazil, published by IHS Markit, reached 40.5 in June, seasonally adjusted, compared to 28.1 in May. The June composite figure was higher than the observed in March (37.6), when the most populous states started to adopt social distancing measures to deal with the COVID-19 pandemic.
However, the composite index still stays below the neutral value of 50, which signals a deterioration in business activity. The services sector PMI stood at 35.9 in June, compared to 27.6 in May. The manufacturing PMI, on the other hand, experienced a solid rebound, jumping to 51.6 from 38.3 in May.
Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q2 2020 report.