The IHS Markit Brazil Services PMI rose to 42.5 in July 2020 from 35.9 in the previous month, still pointing to the fifth consecutive contraction amid the coronavirus crisis. New orders dropped for the for the fifth month in a row, albeit at the softest pace in that sequence while export sales declined for the seventh successive month and a faster rate. Additionally, the job shedding rate slowed. On the price front, input cost inflation rose driven by higher fuel and personal protective equipment costs and the general inflationary impact of unfavourable exchange rates while output charges went down for the fourth consecutive month. Lastly, sentiment improved to a five-month high as firms signalled that they expect new business volumes to increase markedly in line with a resumption of market activity, but only once the COVID-19 pandemic is brought under control.
Services PMI in Brazil averaged 48.02 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 August of 2020. source: Markit Economics
Services PMI in Brazil is expected to be 32.00 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 45.00 in 12 months time. In the long-term, the Brazil Services PMI is projected to trend around 50.80 points in 2021 and 49.80 points in 2022, according to our econometric models.