The IHS Markit Brazil Services PMI rose marginally to 47.1 in February of 2021 from 47 in the previous month. Still, the reading pointed to another solid contraction in services activity, as the ongoing pandemic crisis continued to weigh on the sector's performance. New orders, business activity and employment fell further. On the other hand, exports rebounded marginally. Regarding prices, the overall rate of cost inflation remained sharp, amid higher prices for food, fuel, transportation, utilities and personal protective equipment (PPE). As a result, companies lifted their selling prices, with the rate of charge inflation climbing to a 64-month peak. More encouragingly, business confidence strengthened amid expectations that the COVID-19 immunisation programme should curb the disease and support an economic recovery. There were also mentions that government reforms and marketing efforts could underpin growth. source: Markit Economics
Services PMI in Brazil averaged 48.13 points from 2011 until 2021, reaching an all time high of 57.10 points in February of 2012 and a record low of 27.40 points in April of 2020. 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. Brazil Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Services PMI in Brazil is expected to be 46.70 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 49.00 in 12 months time. In the long-term, the Brazil Services PMI is projected to trend around 50.60 points in 2022 and 51.30 points in 2023, according to our econometric models.