The S&P Global Brazil Services PMI fell to 51 in December 2022 from 51.6 in the prior month. It was the slowest pace of growth in 19 months, pressured by heightened political uncertainty while some firms halted activity during the football World Cup. Still, new business intakes rose quickly, while improved demand led to higher output levels. Employment, however, fell for the first time in 19 months, although slight overall. On the price front, companies surveyed said a stronger dollar, wage increases, rising interest rates, and higher prices for some materials drove input prices to accelerate. In turn, output charges increased as well, but at the softest pace in three months. Finally, hopes of contained inflation and looser monetary policy supported business confidence to remain optimistic. source: Markit Economics

Services PMI in Brazil averaged 49.04 points from 2011 until 2022, reaching an all time high of 60.80 points in June of 2022 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 2023.

Services PMI in Brazil is expected to be 47.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Services PMI is projected to trend around 55.00 points in 2024, according to our econometric models.

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Brazil Services PMI



Related Last Previous Unit Reference
Services PMI 51.00 51.60 points Dec 2022
Manufacturing PMI 44.20 44.30 points Dec 2022
Composite PMI 49.10 49.80 points Dec 2022

Brazil Services PMI
The Markit Brazil Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
51.00 51.60 60.80 27.40 2011 - 2022 points Monthly

News Stream
Brazil Services Sector Growth Hits 19-Month Low
The S&P Global Brazil Services PMI fell to 51 in December 2022 from 51.6 in the prior month. It was the slowest pace of growth in 19 months, pressured by heightened political uncertainty while some firms halted activity during the football World Cup. Still, new business intakes rose quickly, while improved demand led to higher output levels. Employment, however, fell for the first time in 19 months, although slight overall. On the price front, companies surveyed said a stronger dollar, wage increases, rising interest rates, and higher prices for some materials drove input prices to accelerate. In turn, output charges increased as well, but at the softest pace in three months. Finally, hopes of contained inflation and looser monetary policy supported business confidence to remain optimistic.
2023-01-04
Brazil Services PMI Falls to 18-Month Low
The S&P Global Brazil Services PMI fell to 51.6 from 54 in the prior month. It was the slowest pace of growth in 18 months, pressured by heightened market uncertainty. Both new orders and business activity expanded at the lowest rate in one year and a half, with firms able to secure new clients as political and economic turmoil curbed demand. Employment also rose at the slowest pace since June 2021 as increased hiring to keep up with the slight upturn in new business and replace voluntary leavers offset the reduced headcount to lower expenses. On the price front, companies surveyed said a weaker real and higher labor and transportation costs drove input prices to accelerate and halt a period of slowing inflation. In turn, prices charged continued to rise as well. Looking forward, hopes of contained inflation, looser monetary policy, and stronger marketing efforts supported business confidence to remain optimistic.
2022-12-05
Brazil Services Sector Growth Accelerates in October
The S&P Global Brazil Services PMI rose to 54 in October of 2022 from a 16-month low of 51.9 in the previous month. The latest reading pointed to the strongest rate of expansion in the country's services sector since July, following three consecutive months of slowing growth. A marked upturn in new business underpinned faster expansions in business activity and employment. Demand strength, new client wins and greater events were among the reasons cited for the rise in sales. Finance & Insurance was the brightest area of the service economy in October, recording the best trends the four sub-sectors monitored. On the price front, input inflation slowed to a 26-month low, amid lower energy and fuel prices, but selling prices increased much faster. Finally, companies remained optimistic about the outlook amid hopes that investment, advertising and stability after the elections would boost activity.
2022-11-04