FX.co ★ Brazil Services PMI Eases in January

The S&P Global Brazil Services PMI decreased to 51.3 in January 2026, down from 53.7 in December, indicating a slower and only slight expansion in the sector. The growth in business activity decelerated as new orders increased at the slowest rate observed over the past three months of growth. Limited new work impacted overall sentiment, leading to a decline in business confidence to its lowest point in six months, significantly below the long-term average. Consequently, hiring activity came to a halt, and for the first time in five months, service providers reduced employment levels, albeit modestly. Inflation within the sector diminished to a 20-month low, generally conforming to historical standards. Additionally, the rate of increase in prices charged was the slowest seen in seven months, though they remained relatively high.