The latest BRIC Manufacturing sector PMIs for February are continuing to signal support for global growth albeit at weaker rates than in 4Q 2016.
Brazil Manufacturing PMI for February came in at 46.9, slightly less sharp of a rate of contraction than 44.0 in January 2017. This marks 25th consecutive month of Brazil’s Manufacturing PMIs at below 50.0 – the point of zero growth. The rate of decline in Brazil’s case is shallowest since January 2016, but the series are quite volatile and at 46.9, the index is statistically significantly below 50.
Russian Manufacturing PMI moderated from 54.7 in January to 52.5 in February, but the index remained statistically above 50.0, signalling robust growth. This marks 7th consecutive month above with PMI above 50 and the 5th consecutive month that Manufacturing PMI exceeded 50.0 by a statistically significant margin, as the Russian economy continued on its expansion trend.
Chinese Manufacturing PMI cam in at 51.7, still below statistically significant growth line, but above 50.0 nominally, marking 8th consecutive month of above 50 readings (none of these readings were statistically significant, however). 51.7 marks a slight improvement on January’s 51.0.
This post was published at True Economics on Saturday, March 4, 2017.
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