The IHS Markit Brazil Services PMI jumped to 48.3 in May of 2021 from a 9-month low of 42.9 in the prior month. The latest reading pointed to the 5th monthly contraction in the services sector but the softest in the current sequence amid a return to stability in new orders, due to the lifting of some international travel restrictions and effective advertisements. At the same time, new export orders advanced at the 2nd fastest pace in the series. Meanwhile, the impact of the pandemic continued to weigh down on output and, in turn, employment, both of which declined at the slowest pace in 2021. On the price front, input costs inflation remained above their long-term average, while prices charged to clients hiked at the fastest pace in nearly 6 years. Looking ahead, companies expected the pandemic to recede, as vaccines become more available, which led managers to raise their output forecasts, with some firms planning to increase investment and marketing spending. source: Markit Economics
Services PMI in Brazil averaged 48.05 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 June of 2021.
Services PMI in Brazil is expected to be 43.00 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 50.10 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.