Turning to Brazil, its manufacturing PMI registered an 80-month low of 43.8 in November. A Markit press release stated, "Weaker underlying demand led firms to lower output at a sharp pace. The latest data also highlight a renewed decline in new export business and the fastest contraction in payroll numbers in over six-and-a-half years. Meanwhile, the weak real continued to add to firms’ cost burdens and factory gate charges were raised again.