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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
BrazilBrazil HSBC Services PMI fell to 47.9 in March 2015
FMPMonthlyReleased April 2015
Brazil HSBC Services PMI fell to 47.9 in March 2015, released April 2015, down 4.4 from February's 52.3 reading. The reading matched the 49 consensus. Year-over-year, the indicator is down 3.1. Over the past 3 months, HSBC Services PMI averaged 50.35, vs 48.6 in the prior 3-month window. HSBC Services PMI is now the lowest in 17 months.
Latest Release
47.9
Actual
49
Consensus
52.3
Previous
Median Absolute Error
±0.9
across last 3 releases
Last Call
Apr 2015
Predicted: 49.45
Actual: 47.9
Error: +1.55
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/BRL | ▼ Inverse | −0.50 | FOREX | Bullish BRL | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
HSBC Services PMI (Brazil) was reported at 42.50 in June 2015. The reading fell from the previous value of 44.60. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 45.00, down from the prior three at 49.93.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/BRL (Bullish BRL). A secondary relationship exists with BTC/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Unemployment Rate (May 28) and Gross Domestic Product YoY (May 29).
Auto-generated from current model state · Refreshes on each release · Last update June 2015.
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HSBC Services PMI - BR
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About HSBC Services PMI — Brazil
DEFINITION
HSBC Services PMI is a leading economic indicator that measures the performance of the services sector in a country. It provides valuable insights into the health and growth of the services industry, which is a major contributor to a country's overall economic activity. The index is based on a monthly survey of purchasing managers in the services sector, and is widely used by businesses, investors, and policymakers to make informed decisions and forecasts. With its timely and accurate data, HSBC Services PMI is a crucial tool for monitoring and analyzing the state of the services sector and its impact on the economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2015): actual 42.5. Prior reading (Apr 2015): 44.6. Before that (Mar 2015): 47.9.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/BRL (Bullish BRL, r=-0.50) — a useful reference for forex-focused traders.