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.