According to a report Tuesday from HSBC Purchasing Managers' Index (PMI) for the Brazilian manufacturing sector, activity in the country slowed in June. The PMI registered 48.5 in June compared to 49.3 percent in May, reflecting the lowest level since October. Any reading under above 50 indicates growth in the manufacturing sector.
Year-on-year production slid 4.3 percent in June, the largest annual decline since September 2009. The overall drop in output was led by a 4.5 percent slump in vehicle production, as well as less production of capital goods.