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.