Brazil’s S&P Global Services PMI slipped to 50.1 in March from 53.1 in February, signaling a near-stagnation in activity. Firms pointed to weaker demand, slower client acquisition, pressure on household incomes, and generally difficult economic conditions. New business volumes fell for the first time in five months, although the decline was only marginal.
Price pressures intensified: output charges rose sharply, registering the strongest increase since October, while input costs climbed at the fastest rate in four months. Employment expanded for a second straight month and at a moderate pace, with job creation accelerating compared with February.
Service providers remained optimistic about activity growth over the next 12 months. However, overall business confidence weakened from February and remained below the long-run series average.
