Brazil Private Sector Growth Hits Over 1-Year High

The S&P Global Composite PMI for Brazil climbed to 52.4 in April 2026 from 49.9 in the prior month, indicating a renewed expansion in the country's private sector. Although modest, the expansion was the strongest since March 2025, as both the manufacturing and services sectors expanded. Private sector sales rebounded in April, led by services. Employment increased for the third month, with the rate of job growth reaching the highest since March 20255. However, cost pressures strengthened. Input prices rose at the sharpest rate since mid-2022 and output prices accelerated to a near four-year high.

The S&P Global Composite PMI for Brazil fell to 49.9 in March 2026 from 51.3 in the prior month, indicating broadly stagnant activity. The dominant services sector barely grew, while manufacturing continued to contract, albeit at a slower pace. New orders declined, following a small uptick in February, amid strained household finances and deteriorating economic conditions. Meanwhile, employment increased slightly. On the price front, inflationary pressures intensified in the wake of the Middle East crisis. Input cost inflation jumped sharply, reaching its highest level since April 2025. Prices for goods and services rose at the fastest pace since February 2025.

The S&P Global Composite PMI for Brazil rose to 51.3 in February 2026 from 49.9 in the prior month, pointing to renewed growth in the country's private sector. The services sector (PMI at 53.1 vs 51.3 in January) carried the expansion alone, as factory production contracted sharply during the month. Private sector new business rebounded, supported by firm services demand that outweighed reduced goods sales. Job growth resumed across sectors, led by services. While cost inflation eased to one of the lowest levels in two years, firms raised output prices at the quickest rate since July.