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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
BrazilBrazil Markit Manufacturing PMI fell to 48.4 in March 2020
FMPMonthlyReleased April 2020
Brazil Markit Manufacturing PMI fell to 48.4 in March 2020, released April 2020, down 3.9 from February's 52.3 reading. The reading missed the 51.7 consensus by 3.3. The print is running well below the 12-month average of 51.63. Over the past 3 months, Markit Manufacturing PMI averaged 51.17, vs 52.55 in the prior 3-month window. Markit Manufacturing PMI is now the lowest in 35 months.
Latest Release
48.4
Actual
51.7
Consensus
52.3
Previous
Median Absolute Error
±0.7
across last 12 releases
Last Call
Apr 2020
Predicted: 51.48
Actual: 48.4
Error: +3.08
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/BRL | ▼ Inverse | −0.50 | FOREX | Bullish BRL | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Markit Manufacturing PMI (Brazil) was reported at 49.60 in March 2022. The reading rose from the previous value of 47.80.
WHY IT MATTERS
The trailing three releases averaged 49.07, down from the prior three at 51.97.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/BRL (Bullish BRL). A secondary relationship exists with BTC/USD, positively correlated (Watch). Over the last 12 releases, the Sigmacast model's median absolute error is 0.70.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Unemployment Rate (May 28) and Gross Domestic Product YoY (May 29).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit Manufacturing PMI - BR
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About Markit Manufacturing PMI — Brazil
DEFINITION
Markit Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in a particular country. It provides valuable insights into the health and growth of the economy by tracking changes in key factors such as production, new orders, employment, and supplier deliveries. This data is collected through surveys of purchasing managers in the manufacturing industry, making it a reliable and timely indicator of economic activity. Investors, policymakers, and businesses use Markit Manufacturing PMI to make informed decisions and stay ahead of market trends.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2022): actual 49.6. Prior reading (Jan 2022): 47.8. Before that (Dec 2021): 49.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/BRL (Bullish BRL, r=-0.50) — a useful reference for forex-focused traders.