Seeking Alpha

Brazil PMI falls to 10-month low

  • May's 48.8 slides from 49.3 in April, and marks the 2nd consecutive month in contraction territory for the Manufacturing PMI.
  • Investment goods was the worst-performing category, and the drop in production was the largest decline in more than two-and-a-half years . "Anecdotal evidence highlighted an increasingly difficult economic climate."
  • The Bovespa is up 1% in early action, with buyers perhaps cheered by more news arguing for easier monetary policy.
  • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
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