Brazil's manufacturing sector ended the second quarter on a stronger footing, avoiding slipping into contraction territory in June and breaking a three-month run of slowing growth, a survey of purchasing managers' activity on Monday showed.
The Euro has fallen against the dollar after disappointing French and German economic surveys dismayed the markets. In France, private sector business activity contracted for the first time in two and a half years as the gilets Jaunes protests took their toll.
Brazilian services activity contracted at the slowest pace in two years in February, contributing to signs that Latin America's economy may soon turn the corner on a deep recession. The Purchasing Managers Index (PMI) for Brazilian services, compiled by research firm Markit, rose to 46.4 in February from 45.1 in January, hitting its highest mark since March 2015.
Chinese manufacturing has contracted for the third month in a row, according to the government's latest factory survey. The Purchasing Managers' Index (PMI) showed a reading of 49.8 for October, unchanged from last month. A figure below 50 indicates that factory activity contracted.