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. source: Markit Economics

Services PMI in Brazil averaged 48.10 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 April 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
44.10 47.10 57.10 27.40 2011 - 2021 points Monthly


News Stream
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 Sector Shrinks in January
The IHS Markit Brazil Services PMI fell to 47 in January of 2021 from 51.1 in the previous month. The reading pointed to the steepest contraction in services activity since July, ending a run of four consecutive months of expansion. There were renewed declines in new orders and output. Also, employment fell again, amid spare capacity, weak demand conditions, cost reduction efforts and a second wave of COVID-19 cases. On the price front, the rate of charge inflation hit a 15-month high. Looking forward, the overall level of sentiment weakened compared to December, as optimism around the roll-out of COVID-19 vaccines was offset by increasing worries about financial troubles at clients and a spike in case numbers which could prompt tighter restrictions.
2021-02-03
Brazil Services Activity Expands for 4th Month
The IHS Markit Brazil Services PMI rose to 51.1 in December of 2020 from 50.9 in the previous month. The reading pointed to the fourth consecutive expansion in the services sector, as new business and output increased further. However, there was a renewed decline in employment, attributed to a spike in COVID-19 cases and efforts to curb expenses. In terms of prices, the rate of input inflation soared to a near four-and-a-half-year peak, on higher prices for a number of items, partially linked to input shortages and US dollar strength. Accordingly, average output charges rose at a solid rate that was the strongest in a year and outpaced its long-run average. Looking forward, the degree of positive sentiment improved from November, amid optimism around vaccine developments.
2021-01-06

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.