NFTY - BRIC PMIs For May: Volatile Growth And Surging Inflationary Pressures

• Brazil: Manufacturing PMI is currently running at 53.0 for 2Q 2021 for two months into the quarter, down from 1Q 2021 reading of 55.9.
• Russia: Manufacturing PMI remains at the same level through the first two months of 2Q 2021 (51.2) as in 1Q 2021, implying steady, but relatively weak growth.
• India: Manufacturing PMI slipped from 56.9 in 1Q 2021 to 53.2 in 2Q 2021 to-date, marking the second consecutive quarter of declining PMIs.
• China Manufacturing PMI remains relatively robust in 2Q 2021 so far (52.0) compared to 1Q 2021 (51.0), with levels of activity somewhat higher than historical average (50.7).

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