RIO DE JANEIRO, BRAZIL - The pace of expansion in Brazil’s manufacturing sector slowed sharply in March, to its slowest since June last year, a survey of purchasing managers’ activity showed on Thursday, due to the COVID-19 pandemic resurgence and new lockdown restrictions.
The rampant second wave of the virus and its record numbers of new cases and fatalities triggered a decline in new orders, forcing companies to lower production, employment and their forecasts for the coming year, IHS Markit’s latest purchasing managers index (PMI) report showed.
The headline PMI fell to 52.8 in March from 58 . . .