Silvio Cascione – Reuters, 10/01/2012
Brazil’s manufacturing sector nearly broke out of its downturn in September, recording its best month since March on strong output and a slower pace of layoffs, a private survey showed on Monday.
At 49.8 in September, the HSBC Purchasing Managers’ Index for the Brazilian manufacturing sector was still short of the 50 mark that divides contraction and expansion. However, it was the third straight month the number has moved higher, suggesting the downturn in manufacturing activity is becoming less pronounced.
The HSBC PMI survey is comprised of 11 components. One of them, manufacturing output, showed production expanded in September as factories shrugged off weak demand to focus on launching new products.