The IHS Markit Brazil Services PMI edged up to 54.9 in October of 2021 from 54.6 in the prior month. The latest reading pointed to the fifth successive month of expansion in the services sector and the second-highest in over nine-and-a half years, linked to growing vaccine coverage, reduced Covid-19 cases, and rising employment. New business activity expanded markedly, uplifting monthly expansion in output among the fastest seen since early 2012. Further, capacity expansion efforts helped firms clear outstanding business, as backlogs of work declined at the quickest pace since May. On the other hand, output charged inflation was the highest in the near 15 years of data collection, as input costs rose at a near record pace, driven by higher prices for electricity, food, fuel, and gas. Lastly, business confidence remained positive, but eased from previous months due to lower purchasing power for households and concerns over the 2022 general election. source: Markit Economics

Services PMI in Brazil averaged 48.33 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 November of 2021.

Services PMI in Brazil is expected to be 53.00 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


Related Last Previous Unit Reference
Manufacturing PMI 51.70 54.40 points Oct/21
Services PMI 54.90 54.60 points Oct/21
Composite PMI 53.40 54.70 points Oct/21

News Stream
Brazil Service Sector Expands in October
The IHS Markit Brazil Services PMI edged up to 54.9 in October of 2021 from 54.6 in the prior month. The latest reading pointed to the fifth successive month of expansion in the services sector and the second-highest in over nine-and-a half years, linked to growing vaccine coverage, reduced Covid-19 cases, and rising employment. New business activity expanded markedly, uplifting monthly expansion in output among the fastest seen since early 2012. Further, capacity expansion efforts helped firms clear outstanding business, as backlogs of work declined at the quickest pace since May. On the other hand, output charged inflation was the highest in the near 15 years of data collection, as input costs rose at a near record pace, driven by higher prices for electricity, food, fuel, and gas. Lastly, business confidence remained positive, but eased from previous months due to lower purchasing power for households and concerns over the 2022 general election.
2021-11-04
Brazil Service Sector Growth Remains Solid
The IHS Markit Brazil Services PMI dropped to 54.6 in September of 2021 from 55.1 in the prior month. Still, the latest reading pointed to a fourth successive expansion in the services sector and it was the second-highest in over nine-and-a-half years. New business and activity grew at robust rates, boosting a further marked expansion in employment. Meanwhile, new export business fell for the first time in five months and was solid overall. On the price front, both input cost inflation and output charge inflation reached survey records, mainly due to rising prices for food, fuel, personal protective equipment (PPE) and materials. Lastly, business confidence strengthened to a 26-month high, as expectations that the pandemic will subside underpinned forecasts of better tourism and demand in the year ahead.
2021-10-05
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 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.