FX.co ★ Brazil Manufacturing PMI Edges Up in February

Brazil’s S&P Global Manufacturing PMI inched up to 47.3 in February 2026 from 47.0 in January, but remained firmly in contraction territory for the 10th consecutive month. The survey continued to indicate broad-based sector weakness. Capital goods stayed the worst-performing segment, while intermediate goods recorded a sharp decline in line with January’s pace; by contrast, the consumer goods segment showed signs of stabilization. New orders dropped steeply at the fastest rate since September, and export orders fell for the 11th straight month. Manufacturers reduced output further, registering the most pronounced contraction since June 2023, with the exception of consumer goods producers, which reported a renewed expansion in production. Employment edged higher as some firms increased hiring to address staffing shortages. Business sentiment remained positive, underpinned by advertising efforts, planned investments, new product launches, and the anticipated boost from the FIFA World Cup.