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.

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Brazil Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
48.30 42.90 57.10 27.40 2011 - 2021 points Monthly


News Stream
Brazil Services Sector Shrinks the Least in 2021
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.
2021-06-04
Brazil Services Sector Shrinks The Most in 9 Months
The IHS Markit Brazil Services PMI fell to 42.9 in April of 2021 from 44.1 in the previous month. The latest reading pointed to the fourth monthly contraction in the services sector and the steepest since last July amid the worsening Covid-19 crisis. New orders, output and employment fell at quicker rates, as demand was again constrained by ongoing restrictions. Meanwhile, exports decreased at a marginal pace that was softer than that recorded in March. On the price front, elevated price pressures persisted with input costs increasing at the second-fastest pace in over five years, while prices charged for the provision of services were raised markedly. Finally, business sentiment fell to a ten-month low, dampened by worries about the escalation of the pandemic.
2021-05-05
Brazil Services Sector Shrinks The Most in 8 Months
The IHS Markit Brazil Services PMI fell to 44.1 in March of 2021 from 47.1 in the previous month. The latest reading pointed to the third straight monthly contraction in services activity and at the fastest pace since last July, as a spike in Covid-19 cases and the reinstatement of restrictions caused a sharper decline in new work intakes. As a result, business activity fell at the fastest pace since mid-2020 and employment continued to decrease. On the price front, companies faced the strongest upturn in input costs in over five years mainly attributed to real weakness and a lack of available materials. Meantime, the rate of charge inflation remained marked, despite easing from February's recent high amid discounting efforts to gain a competitive edge. Finally, business sentiment waned due to growing concerns over rising COVID-19 cases.
2021-04-06
Brazil Services Sector Remains in Contraction
The IHS Markit Brazil Services PMI rose marginally to 47.1 in February of 2021 from 47 in the previous month. Still, the reading pointed to another solid contraction in services activity, as the ongoing pandemic crisis continued to weigh on the sector's performance. New orders, business activity and employment fell further. On the other hand, exports rebounded marginally. Regarding prices, the overall rate of cost inflation remained sharp, amid higher prices for food, fuel, transportation, utilities and personal protective equipment (PPE). As a result, companies lifted their selling prices, with the rate of charge inflation climbing to a 64-month peak. More encouragingly, business confidence strengthened amid expectations that the COVID-19 immunisation programme should curb the disease and support an economic recovery. There were also mentions that government reforms and marketing efforts could underpin growth.
2021-03-03

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.