A private gauge indicates that manufacturing activity in Brazil increased last month for the ninth month in a row, but grew more slowly than before, Reuters reports.
The news agency says the Brazil Purchasing Managers Index, compiled by IHS Markit, fell to 52.3 points last month from 53.4 in March. A reading above 50 points indicates expansion in activity while a reading below 50 indicates contraction.
The report quotes IHS Markit Principal Economist Pollyanna de Lima as saying: “It’s encouraging to see that the latest set of PMI data highlighted sustained growth in the Brazilian manufacturing sector, but the broad nature of the slowdown is somewhat concerning.”
The Brazilian central bank will probably cut its main interest rate soon – to 6.25 percent, the lowest ever – to support the economic recovery, Reuters says.
