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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
BrazilBrazil Markit Services PMI climbed to 50.7 in September 2017
FMPMonthlyReleased October 2017
Brazil Markit Services PMI climbed to 50.7 in September 2017, released October 2017, up 1.7 from August's 49 reading. The reading matched the 49.5 consensus. Markit Services PMI has now risen for 4 consecutive months. Over the past 3 months, Markit Services PMI averaged 48.9, vs 48.97 in the prior 3-month window. Markit Services PMI is now the highest in 27 months.
Latest Release
50.7
Actual
49.5
Consensus
49
Previous
Median Absolute Error
±1.49
across last 12 releases
Last Call
Oct 2017
Predicted: 49.9
Actual: 50.7
Error: -0.8
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
Markit Services PMI (Brazil) was reported at 54.70 in March 2022. The reading rose from the previous value of 52.80. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 53.70, down from the prior three at 54.37.
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). Over the last 12 releases, the Sigmacast model's median absolute error is 1.49.
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 March 2022.
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Markit Services PMI - BR
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About Markit Services PMI — Brazil
DEFINITION
Markit Services PMI is a widely recognized financial indicator that measures the performance of the services sector in an economy. It provides valuable insights into the health and growth of the services industry by tracking changes in business activity, new orders, employment, and prices. This data is collected through surveys of purchasing managers in various service-based companies, making it a reliable and timely indicator of economic trends. Markit Services PMI is used by investors, businesses, and policymakers to make informed decisions and assess the overall economic outlook.
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 (Feb 2022): actual 54.7. Prior reading (Jan 2022): 52.8. Before that (Dec 2021): 53.6.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/BRL (Bullish BRL, r=-0.50) — a useful reference for forex-focused traders.