Brazil Services PMI

Last Release

Feb 29, 2024

Actual

54.6

Units In

Points

53.1

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	49.29 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 54.6 in February of 2024 from 53.1 in the prior month, marking the fifth consecutive expansion in the Brazilian services activity, at the quickest pace since July 2022. The improvement in the performance of the sector was supported by continuous growth of new business. Sales rose markedly in February, and at the quickest pace since October 2022, amid reports of strengthening demand for services, fruitful advertising and successful sales events. In the meantime, job expansion continued, albeit at a slower pace, due to cost-saving measures and available capacity at certain companies. On the price front, a pick-up in inflationary pressures was observed, as firms reacted to a sharper increase surge in operating expenses by raising selling prices to the highest level since May 2023. Lastly, the degree of business optimism improved to a four-month high.