Brazil’s manufacturing PMI in April
According to data provided by Markit Economics, the final Markit Brazil manufacturing PMI fell sequentially in April. It was 52.3 in April compared to 53.4 in March. April’s PMI didn’t beat the initial market estimate of 53. It indicated the slowest improvement in factory activity since January.
Slower improvement in Brazil’s manufacturing PMI in April was mostly due to the following factors:
- Production output and volume rose at a slower rate in April than in March.
- New business orders and export orders rose at a weaker pace in April.
- Job growth in the manufacturing sector slowed down in April.
Major ETFs in April
A higher unemployment rate in April affected all economic activity in April. That led to less consumer demand and thus lower consumer buying activity. Unsold goods and inventories rose at higher rates. Input cost inflation also rose at a higher rate. All these factors affected the performances of major ETFs.
In the next part of this series, we’ll analyze the performance of Brazil’s services PMI in April.