The IHS Markit Brazil Services PMI rose to 50.4 in September 2020 from 49.5 in the previous month. The reading pointed to the first expansion in the services sector since February amid the ongoing loosening of coronavirus lockdown restrictions. Output increased and new orders advanced for the second successive month. At the same time, export sales dropped at the softest pace in seven months and the job shedding rate eased to its lowest in the current six-month sequence of reduction. On the price front, input price inflation accelerated to its highest in nearly four years boosted by higher cost of energy, food, fuel, hygiene materials and PPE, while output charges dropped at the weakest rate in six months. Finally, positive sentiment weakened and was subdued compared to the series average as some service providers continue to see the pandemic restricting business activity.
Services PMI in Brazil averaged 48.06 points from 2011 until 2020, 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 October of 2020. source: Markit Economics
Services PMI in Brazil is expected to be 50.80 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 51.30 in 12 months time. In the long-term, the Brazil Services PMI is projected to trend around 51.30 points in 2021 and 50.90 points in 2022, according to our econometric models.