By Jamie McGeever
BRASILIA, Oct 1 (Reuters) – Brazilian manufacturing expanded at a record pace in September, a survey of purchasing managers’ activity showed on Thursday, extending a recovery from the worst of the COVID-19 crisis as employment growth hit a decade high and export orders rose for the first time in a year.
IHS Markit’s headline Brazil manufacturing purchasing managers index (PMI) rose to 64.9 in September from 64.7 in August, the highest level since the index was first compiled in February 2006.
A reading above 50.0 marks expansion in the sector, while a reading below signifies contraction.
This is the latest indicator to show the strength of the rebound in Brazilian manufacturing and industry compared with the continued weakness in the dominant services sector, which is still contracting and shedding jobs.
Of 30 countries’ manufacturing PMIs tracked by economists at HSBC, Brazil’s headline index and employment index