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.

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Brazil Services PMI



Related Last Previous Unit Reference
Services PMI 55.80 60.80 points Jul 2022
Manufacturing PMI 54.00 54.10 points Jul 2022
Composite PMI 55.30 59.40 points Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
55.80 60.80 60.80 27.40 2011 - 2022 points Monthly

News Stream
Brazil Services PMI Eases from Record
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.
2022-08-03
Brazil Services PMI Hits Record High
The S&P Global Brazil Services PMI rose to 60.8 in June of 2022, a new record high, and compared to 58.6 in the prior month and notching the 12th consecutive month of growth. New orders placed with Brazilian service providers rose at the fastest pace in 15 years, underpinned by new client wins, marketing efforts, greater investments, and strong underlying demand. Good business conditions and positive growth projections supported hiring activity to rise by the quickest rate on survey record, with surging job creation in the finance and insurance sectors. In the meantime, input prices continued to rise, lifted by costs of energy, food, hygiene products, and fuel, in addition to a weaker Brazilian real. Looking forward, optimism towards resilient client demand and hopes of a positive outcome to the presidential election lifted business confidence to a three-year high.
2022-07-05
Brazil Services PMI Eases from Record
The S&P Global Brazil Services PMI eased to 58.6 in May of 2022 from the record-high of 60.6 from the previous month, marking the second-strongest figure since May of 2007 and the eleventh consecutive month of growth. Expansion in the sector was underpinned by higher inflows of new business amid strong underlying demand and new client wins. To adapt to higher levels of demand and renewed capacity pressures, Brazilian service providers increased hiring activity at the sharpest rate on survey record. On the other hand, firms continued to raise fees, owing to the persistent rise in input costs, primarily for food, energy, fuel, labor and materials. Looking forward, service providers were more optimistic regarding business during the coming year, supported by efforts to attract new customers and hopes of price stability.
2022-06-03