Brazil: Services PMI rises in January
The S&P Global Brazil Services Purchasing Managers’ Index (PMI) rose to a seven-month high of 53.1 in January from 50.5 in December. As a result, the index moved further above the 50.0 no-change threshold and signaled a faster improvement in services sector operating conditions compared to the previous month.
January’s upturn was driven by increased new orders amid favorable demand conditions spurring stronger job creation. Turning to prices, higher costs for food, fuel, and utilities contributed to a quicker increase in overall cost burdens. Meanwhile, output charges rose at December’s pace in January. Lastly, the outlook for growth prospects remained optimistic, underpinned by strong industrial investment and expectations of better economic conditions to come.