The IHS Markit Brazil Services PMI rose to 52.7 in January 2020 from 51 in the previous month. The latest reading pointed to the sharpest expansion in the services sector since March last year, as new orders increased to a ten-month high and the job creation rate accelerated mainly due to greater activity, internal restructuring, favourable demand environment and upbeat growth predictions. On the other hand, export orders dropped following renewed growth in December and volumes of outstanding work continued to fall. On the price front, input cost inflation advanced sharply boosted by employment costs and energy, food, fuel and water prices; while output cost inflation slowed to a six-month low. Finally, firms remained optimistic regarding business activity growth over the coming 12 months, amid investment, client numbers, favourable economic scenario and public policy reforms.
Services PMI in Brazil averaged 48.73 points from 2011 until 2020, reaching an all time high of 57.10 points in February of 2012 and a record low of 36.90 points in February of 2016. This page provides the latest reported value for - Brazil Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics
Services PMI in Brazil is expected to be 52.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Brazil to stand at 50.90 in 12 months time. In the long-term, the Brazil Services PMI is projected to trend around 51.00 points in 2021 and 49.20 points in 2022, according to our econometric models.