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Brazil's Manufacturing Activity Deteriorates In December

Brazil's manufacturing activity contracted further in December, survey results from IHS Markit revealed Monday.

The manufacturing Purchasing Managers' Index dropped to a six-month low of 45.2 in December from 46.2 in November. A reading below 50 indicates contraction in the sector.

The downward movement in the PMI reflected quicker falls in new business inflows and production. Further, falling workloads translated into further reductions in manufacturing employment.

Finally, cost inflation hit a four-month high, leading to a stronger increase in factory gate charges.

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