Brazil’s services PMI fell to 47.1 in February

The economic activity in Brazil's services sector continued to fall in February 2021. The Purchasing Managers’ Index (PMI) in the services sector stood at 47.1, below the threshold value of 50, which separates expansion from contraction. This is the second month in a row in which the index stays below 50, reflecting the rising number of COVID-19 infections, although the national vaccination plan had started in January.

In the first two months of 2021, as many regions reported more COVID-19 infected people needing ICU treatment, some local governments have adopted social distancing measures, impacting the performance of the services sector.

Read the latest CEIC Leading Indicator analysis for Brazil - 'Vaccination delays hamper Brazil’s economic recovery'.