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