The S&P Global Brazil Services PMI climbed 1.8 points to 53.1 in February 2026, up from 51.3 in January. This signaled the second-fastest expansion since November 2024—surpassed only by December—and extended the sector’s growth streak to four consecutive months.
Service providers reported a fourth straight monthly increase in new business midway through the first quarter. Excluding December, the latest rise in new orders was the strongest in 11 months. Firms managed to secure additional work even as they raised selling prices at the fastest pace in three months.
Input costs continued to rise sharply, though cost inflation eased to its lowest level in two years and remained above the rate of output price increases. Employment in the services sector grew in February, rebounding after January’s decline, which had been the first drop in five months.
Looking ahead, services firms remained optimistic about output growth over the next 12 months. They cited advertising efforts, legislative changes, new product and service offerings, planned investments, and the FIFA World Cup as key drivers of future expansion.
