The S&P Global Brazil Services PMI eased to 55.8 in July of 2022 from the record-high of 60.8 in the previous month, but still marking the 13th consecutive period of growth. New orders placed for Brazilian service providers eased to a five-month low but remained relatively sharp, with panelists citing lower consumer spending amid elevated price pressures in the country. Robust sales growth underpinned further hiring activity, but at a slower pace than that from the previous month. In the meantime, higher prices for food, fuel, utilities, and the depreciation of the Brazilian real drove input cost inflation to remain steep, despite easing to a three-month low. Looking forward, service providers remained confident on the output levels during the next 12 months, hoping that economic recovery will continue to support higher business activity. source: Markit Economics
Services PMI in Brazil averaged 48.90 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 August of 2022.
Services PMI in Brazil is expected to be 59.00 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 52.00 points in 2023, according to our econometric models.