According to a report from HSBC Purchasing Managers' Index for the Brazilian manufacturing sector, activity in the country slowed in June 2012. The PMI registered 48.5 in June 2012 as compared to 49.3 percent in May 2012, reflecting the lowest level since October 2011. Any reading under above 50 indicates growth in the manufacturing sector.

YoY production slid 4.3% in June 2012, the largest annual decline since September 2009. The overall drop in output was led by a 4.5% slump in vehicle production, as well as less production of capital goods.

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