FX.co ★ Brazil Private Sector Activity at 4-Month High

In March 2025, Brazil's S&P Global Composite PMI experienced a rise to 52.6, up from 51.2 in February, indicating a moderate expansion in private sector activity. This marks the second consecutive month of aggregate output growth, reaching a four-month high. Both the services and manufacturing sectors saw increased output, with growth rates similar across both sectors. New business witnessed an upturn, particularly in the services sector, which experienced stronger expansion than the manufacturing sector, as composite sales grew at the fastest rate since November 2024. Additionally, employment in the private sector continued its upward trend in March, extending the current job creation streak to 18 months. On the pricing front, firms in the private sector reported easing inflation rates for both input costs and output charges. However, these rates of increase remained historically high, particularly concerning business expenses.