The IHS Markit Brazil Services PMI rose to 51.1 in December of 2020 from 50.9 in the previous month. The reading pointed to the fourth consecutive expansion in the services sector, as new business and output increased further. However, there was a renewed decline in employment, attributed to a spike in COVID-19 cases and efforts to curb expenses. In terms of prices, the rate of input inflation soared to a near four-and-a-half-year peak, on higher prices for a number of items, partially linked to input shortages and US dollar strength. Accordingly, average output charges rose at a solid rate that was the strongest in a year and outpaced its long-run average. Looking forward, the degree of positive sentiment improved from November, amid optimism around vaccine developments. source: Markit Economics
Services PMI in Brazil averaged 48.15 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 January of 2021.
Services PMI in Brazil is expected to be 51.50 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 50.90 points in 2022, according to our econometric models.