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. source: Markit Economics

Services PMI in Brazil averaged 48.10 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 August 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. Looking forward, we estimate Services PMI in Brazil to stand at 51.00 in 12 months time. 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
53.90 48.30 57.10 27.40 2011 - 2021 points Monthly


News Stream
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 Sector Shrinks The Most in 9 Months
The IHS Markit Brazil Services PMI fell to 42.9 in April of 2021 from 44.1 in the previous month. The latest reading pointed to the fourth monthly contraction in the services sector and the steepest since last July amid the worsening Covid-19 crisis. New orders, output and employment fell at quicker rates, as demand was again constrained by ongoing restrictions. Meanwhile, exports decreased at a marginal pace that was softer than that recorded in March. On the price front, elevated price pressures persisted with input costs increasing at the second-fastest pace in over five years, while prices charged for the provision of services were raised markedly. Finally, business sentiment fell to a ten-month low, dampened by worries about the escalation of the pandemic.
2021-05-05
Brazil Services Sector Shrinks The Most in 8 Months
The IHS Markit Brazil Services PMI fell to 44.1 in March of 2021 from 47.1 in the previous month. The latest reading pointed to the third straight monthly contraction in services activity and at the fastest pace since last July, as a spike in Covid-19 cases and the reinstatement of restrictions caused a sharper decline in new work intakes. As a result, business activity fell at the fastest pace since mid-2020 and employment continued to decrease. On the price front, companies faced the strongest upturn in input costs in over five years mainly attributed to real weakness and a lack of available materials. Meantime, the rate of charge inflation remained marked, despite easing from February's recent high amid discounting efforts to gain a competitive edge. Finally, business sentiment waned due to growing concerns over rising COVID-19 cases.
2021-04-06

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.