Brazil Services PMI

Last Release

Jul 31, 2024

Actual

56.4

Units In

Points

54.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
60.8 Jun 2022	27.4 Apr 2020	49.48 Points	2011-2024	Markit Economics

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.

Latest Updates

The S&P Global Brazil Services PMI rose to 56.2 in October 2024, up from 55.8 in September, marking a significant acceleration in business activity and the second-fastest expansion since mid-2022. This growth was primarily driven by the strongest increase in new orders since June 2022, supported by robust domestic demand. Despite this uptick, job creation stalled as firms paused hiring due to cost considerations, ending a 12-month hiring streak. Input costs surged amid currency depreciation and drought-related pressures, especially affecting materials like food and fuel. Selling prices remained steady from September, with high inflation observed in the Transport, Information & Communication and Consumer Services sectors. Business confidence was bolstered by favorable demand outlooks.