Brazil’s Business Activity Continues to Deteriorate in April

Brazil’s Purchasing Managers’ Index (PMI) plunged to 26.5 in April, the lowest figure in three years. It indicates that business activity is further deteriorating following the quarantine measures implemented by many local governments in March, when the PMI was 37.6. Each figure below 50 suggests that the sector is in contraction, and each above this threshold – that the sector is expanding.

April's composite result was weighed on by services, as the sector’s PMI reached 27.4 in April, after plummeting to 34.5 in March. The manufacturing PMI slumped to 36 in April, after dropping to 48.4 in March 2020.

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