India, May 2 -- The Brazilian manufacturing economy remained broadly stagnant in April amid renewed decline in new orders, survey data from S&P Global showed on Friday.
The purchasing managers' index, or PMI, for the manufacturing sector dropped to a 16-month low of 50.3 in April from 51.8 in March. However, a score above 50 indicates expansion.
New orders fell for the first time in sixteen months due to demand weakness in the domestic and international markets. Export business also showed a renewed decline in April, reflecting lower demand from Mercosur and the US.
Output growth was slowest in three months, linked to order cancellations, subdued sales, and skill shortages.
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