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.