Brazil’s private sector activity deteriorated further in October, as the S&P Global Composite PMI fell to 44.4, down from 47.4 in September 2026. The latest reading, released on 5 November 2026, signals a sharper contraction in overall business conditions across the country, with the index remaining below the 50.0 threshold that separates expansion from decline.
The drop from September’s 47.4 to October’s 44.4 underscores mounting pressures on both manufacturing and services, pointing to weakening demand and a more challenging operating environment for Brazilian firms. The back-to-back sub-50 readings suggest that the downturn is becoming more entrenched, raising concerns about the momentum of Brazil’s broader economic activity heading into the final months of 2026.