The Brazilian manufacturing sector experienced its slowest growth this year, driven by modest increases in new orders and escalating price pressures, according to data released by S&P Global on Monday.The Purchasing Managers’ Index (PMI) for the manufacturing sector fell to 50.4 in August, down from 54.0 in July. Despite this decline, a value above 50 still signifies expansion.New orders increased at the slowest rate in eight months due to diminished demand for various products. This led firms to reduce their output volumes for the first time in eight months, largely due to weak sales, lackluster demand, and rising cost pressures.On a brighter note, international sales saw a slight increase, fueled by stronger demand from Asia and the Middle East.Cost pressures heightened in August as the rate of input price inflation reached a 29-month peak, driven by increased costs for several raw materials linked to currency depreciation.Despite these challenging conditions, Brazilian manufacturers expressed greater optimism for the year ahead. Confidence has been bolstered by plans for plant expansions, product diversification, investment, and anticipated growth in demand.The material has been provided by InstaForex Company – www.instaforex.com
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