Insights into Brazil’s Manufacturing PMI in September 2017
The final Markit Brazil Manufacturing PMI (Purchasing Managers’ Index) stood at 50.9 in September 2017. It remained unchanged compared to August 2017.
Oct. 19 2017, Updated 7:41 a.m. ET
Brazil’s manufacturing PMI in September
According to data provided by Markit Economics, the final Markit Brazil Manufacturing PMI (Purchasing Managers’ Index) stood at 50.9 in September 2017. It remained unchanged compared to August 2017. It didn’t beat the initial estimate of 51.2.
The performance of Brazil’s manufacturing PMI in September was mainly due to the following:
- Production volume and output rose at a stronger rate.
- New business orders and export orders showed some improvement.
- Job growth in the manufacturing sector and outstanding businesses fell.
Performance of major ETFs in September
The iShares MSCI Brazil Capped (EWZ), which tracks the performance of Brazil (FBZ), rose 4.2% in September 2017. The Direxion Daily MSCI Brazil Bull 3X ETF (BRZU) rose 12.0% in September 2017.
The Brazilian economy has faced a series of problems in past years. Rising inflation, unemployment, and contraction in economic growth largely hampered investor sentiment for the economy. Now, falling employment is again increasing concerns. Brazil (BRZU) (FBZ) is one of the important economies in Latin America (ILF). Stabilization in commodity prices is supporting various major economies there.
In the next part of this series, let’s look at the services PMI for Brazil in September 2017.
