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.

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Brazil Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
55.10 54.40 57.10 27.40 2011 - 2021 points Monthly


News Stream
Brazil Service Sector Growth Strongest since 2012
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.
2021-09-03
Brazil Service Sector Growth at Over 8-Year High
The IHS Markit Brazil Services PMI rose to 54.4 in July of 2021 from 53.9 in the prior month. The latest reading highlighted a second successive expansion in the services sector that was the fastest since January of 2013, amid robust inflows of new work, especially from abroad. This underpinned the sharpest expansion in output since the start of 2013. At the same time, the improvement in demand conditions led to the joint-quickest accumulation of outstanding business volumes on record, which in turn boosted job creation. On the price front, inflationary pressures subsided in July as both input costs and output charges continued to rise solidly but at weaker rates. Finally, the level of positive business sentiment was the second-strongest in seven months, behind June, but remained below the series average.
2021-08-04
Brazil Service Sector Rebounds Markedly in June
The IHS Markit Brazil Services PMI jumped to 53.9 in June of 2021 from 48.3 in the prior month, the strongest level of expansion in the services sector since January of 2013 and snapping a 5-month period of contractions in the sector amid easing public health restrictions and progress in the vaccination campaign. The strongest contributions came from new business and new export orders, which supported a rebound in output levels and the strongest hiring effort in Brazilian services since January of 2020, ending a 6-month period of lay-offs. On the price front, input inflation quickened from May and remained above the long-term average, with businesses citing higher prices in fuel, utilities, food and personal protective equipment. In turn, services’ charges rose at the 3rd fastest pace in the series, as firms partly passed higher costs down to clients. Looking forward, business morale rose to a 6-month high, on hopes the COVID-19 restrictions will continue to ease.
2021-07-05
Brazil Services Sector Shrinks the Least in 2021
The IHS Markit Brazil Services PMI jumped to 48.3 in May of 2021 from a 9-month low of 42.9 in the prior month. The latest reading pointed to the 5th monthly contraction in the services sector but the softest in the current sequence amid a return to stability in new orders, due to the lifting of some international travel restrictions and effective advertisements. At the same time, new export orders advanced at the 2nd fastest pace in the series. Meanwhile, the impact of the pandemic continued to weigh down on output and, in turn, employment, both of which declined at the slowest pace in 2021. On the price front, input costs inflation remained above their long-term average, while prices charged to clients hiked at the fastest pace in nearly 6 years. Looking ahead, companies expected the pandemic to recede, as vaccines become more available, which led managers to raise their output forecasts, with some firms planning to increase investment and marketing spending.
2021-06-04

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.