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.