Seeking Alpha

Soft manufacturing growth continues in Brazil

  • The PMI edges higher to 50.8 in January from 50.5 previously, but New Orders jumped to an 11-month high of 52.4 (and from 50.7 previously). Output rose, but pace was the slowest since September.
  • Despite gains in orders and production, employment contracted for the 10th consecutive month.
  • Prices rose at their fastest pace in three months amid the real's depreciation - falling 2.5% in just January.
  • EWZ -12% YTD, but up 0.9% premarket
  • Related ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, FBZ, DBBR
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