FX.co ★ Brazil Services PMI Falls in September

The S&P Global Brazil Services PMI dropped to 46.3 in September 2025 from 49.3 in August, marking the steepest contraction seen in nearly four and a half years, on par with July's figures. September saw new business activity decline for the sixth consecutive month, primarily due to weakened demand, although this month's rate of decline was the least severe since June. Employment experienced a slight increase for the first time in three months, driven by company adjustments and efforts to expand sales, though the level of job creation was minimal. Business optimism remained positive despite a dip in confidence, attributed to ongoing financial uncertainties, political factors, and high interest rates. Additionally, while input cost inflation decreased to its lowest point in ten months, it continued to stay at a relatively high level.