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. source: Markit Economics

Services PMI in Brazil averaged 48.75 points from 2011 until 2022, reaching an all time high of 60.60 points in April 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 July 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
Manufacturing PMI 54.10 54.20 points Jun 2022
Services PMI 58.60 60.60 points May 2022
Composite PMI 58.00 58.50 points May 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
58.60 60.60 60.60 27.40 2011 - 2022 points Monthly

News Stream
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
Brazil Services PMI Hits Record High
The S&P Global Brazil Services PMI jumped to a record 60.6 in April of 2022 from 58.1 in the previous month. Growth in the service sector shifted into a higher gear at the start of the second quarter, underpinned by solid increases in output and new business amid robust domestic demand. Companies were required to expand capacity to deal with rising sales, prompting the sharpest increase in employment since 2007. On the price front, input costs surged at the second-fastest rate while output charges surged at the strongest rate on record as firms continued to pass on these costs to clients. Finally, service providers were strongly upbeat about the outlook for business activity.
2022-05-04
Brazil Services PMI at Near 15-Year High
The S&P Global Brazil Services PMI jumped to 58.1 in March of 2022 from 54.7 in the previous month, marking the fastest rate of expansion in nearly 15 years. The latest figure pointed to the tenth consecutive month of growth for service providers, underpinned by strong increases in output and new business as the Brazilian economy continued to recover from the Covid-19 crisis. According to panelists, the upturn was caused by new client wins, successful marketing efforts, and rising sales, supported by higher levels of export business. Companies were required to expand capacity to accommodate for higher work intakes, prompting the sharpest increase in employment since 2007. On the price front, input costs accelerated following a brief slowdown the previous month, owing to higher electricity, food, fuel, oil, and transportation prices. Looking forward, business sentiment eased from the previous month due to rising inflation and growth jitter surrounding the war in Ukraine.
2022-04-05