Brésil PMI Services

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.