The S&P Global Brazil Manufacturing PMI came in at 48.2 in July 2025, little changed from June’s near one-year low of 48.3, marking the sector’s third consecutive month of contraction. New orders decreased solidly, with the downturn quickening to the fastest in just over two years, owing to market uncertainty. Notably, export orders declined markedly amid weaker client interest from South America, the UK and the US. As a result, production declined for the third consecutive month, though the rate of contraction was milder than in June. This also prompted manufacturers to trim input purchasing volumes and stock levels. In a positive development, employment rose after falling for the first time in 23 months during June. Price gauges showed quicker increases in costs and charges, though rates of inflation remained below their respective long-run averages. Lastly, business sentiment remained positive.