Sales, production in Brazil rise at fastest rates in 3 months: Report

By Ovunc Kutlu

ISTANBUL (AA) - Sales and production in Brazil increased in July at fastest rates in three months, according to a report released by the US-based financial services company S&P Global on Thursday.

"New orders, output and input buying all rose at the fastest rates in three months," it said. "Concurrently, job creation quickened and business confidence remained robust."

The S&P Global Brazil Manufacturing Purchasing Managers' Index (PMI) was up from 52.5 in June to 54.0 in July, indicating the fastest improvement in the health of the sector since April, and extending its growth to seven months.

"A recovery in growth of demand for Brazilian goods boosted sales and production in July, prompting firms to expand their workforces and scale up input purchases," said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.