The IHS Markit Brazil Services PMI increased to 49.5 in August 2020 from 42.5 in the previous month. The latest reading pointed to the sixth successive contraction in the services sector, albeit at the softest pace in the current period of decline amid the coronavirus crisis. New orders rose for the first time in six months amid a steady resumption of market activity and signs of improved demand, while export sales dropped for eight straight months. The job shedding rate slowed to a six-month low. On the price front, input cost inflation quickened to a five-month high boosted by higher cost of personal protective equipment and cleaning products, while output charges went down for a fifth successive month. Lastly, sentiment improved to a six-month high driven by optimism over the ongoing recovery from the pandemic.
Services PMI in Brazil averaged 48.04 points from 2011 until 2020, 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 2020. source: Markit Economics
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. Looking forward, we estimate Services PMI in Brazil to stand at 51.10 in 12 months time. In the long-term, the Brazil Services PMI is projected to trend around 51.30 points in 2021 and 50.90 points in 2022, according to our econometric models.