The city on the beach in Brazil

Brazil PMI May 2024

Brazil: Services PMI rises to near two-year high in May

The S&P Global Brazil Services Purchasing Managers’ Index (PMI) rose to a 22-month high of 55.3 in May from 53.7 in April. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in services-sector business activity compared to the previous month.

May’s upturn reflected a marked increase in new orders, which have been supported by demand strength, rising customer numbers, and local events. This surge in new business, the fastest in 22 months, spurred job creation, with employment expanding at the joint-fastest pace since October 2022.

Regarding prices, the report highlighted another sharp increase in operating expenses, attributed to higher fuel, material, rent, and wage costs. Despite these cost pressures, charge inflation moderated to an eight-month low. Lastly, business confidence rebounded and hit a nine-month high, reflecting an optimistic outlook for the service sector’s growth prospects.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest