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2 Minutes Read FILE PHOTO: In Vinhedo, Brazil, on March 25, 2020, an employee works on the production of ethanol-based hand sanitizers in the AGE do Brasil factory, which was hired by brewing Ambev to produce hand sanitizers to contribute to public hospitals during the coronavirus illness (COVID-19) outbreak. Amanda Perobelli/REUTERS Reuters / Reuters / Reuters / Reuters / Reuters / Reuters / Reuters According to a poll of purchasing managers’ activity released on Thursday, growth in Brazil’s manufacturing sector increased to its quickest rate in four months in June, powered by the strongest growth this year in employment and export orders. However, due to the second wave of the COVID-19 pandemic, the average rate of growth in the second quarter was slower than in the previous three months. However, according to IHS Markit’s purchasing managers index (PMI) survey, Brazilian firms are betting on an end to the current challenges and a healthier second half of the year. According to IHS Markit, the headline PMI increased to 56.4 in June from 53.7 in May, the highest level since February. A result of more than 50.0 indicates expansion, while a reading of less than 50.0 indicates contraction. The show first aired in 2006. “Despite the ongoing battle against a new wave of COVID-19 cases, enterprises saw their order books grow significantly from last month… (and) manufacturers worked on rebuilding their stockpiles to meet increased demand,” said Polyanna de Lima, IHS Markit’s economics associate director. “The manufacturing industry’s resiliency spilled over into the labor market, as businesses bet on a recovery and hired more people. As company optimism strengthened, employment increased at the fastest rate in seven months “she stated The economy’s resilience in the face of the pandemic has spurred upward revisions to this year’s growth forecasts, with the latest median projection of 5.1 percent in a weekly central bank survey of analysts. According to IHS Markit, the employment indicator increased to its highest level since November, and the new export orders index increased to its highest level since December. Jamie McGeever contributed reporting, and Chizu Nomiyama edited the piece./nRead More

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