The IHS Markit Brazil Services PMI rose to 55.1 in August of 2021 from 54.4 in the prior month. The latest reading pointed to a third successive expansion in the services sector that was the fastest since February of 2012. Business activity rose to the greatest extent in nine-and-a-half years in response to strong inflows of new work, helped by improved demand conditions, growing vaccine coverage and the reopening of some businesses. Subsequently, companies hired extra staff for a third straight month in August, but the rate of growth but eased from July. On the price front, cost inflationary pressures showed no signs of abating, leading to the third-sharpest rise in output charges in the survey history. Finally, services firms were at their most optimistic in a year and a half, with positive sentiment largely reflecting hopes of an end to the pandemic as vaccination becomes widespread. source: Markit Economics
Services PMI in Brazil averaged 48.22 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 September of 2021.
Services PMI in Brazil is expected to be 50.00 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 50.60 points in 2022 and 51.30 points in 2023, according to our econometric models.