The S&P Global Composite PMI for Brazil rose to 52.1 in December 2025 from 49.6 in November, signaling the first expansion in private sector output for nine months. The latest reading was consistent with a moderate rate of growth in the country's private sector that was above its long-run average, solely driven by services (PMI at 53.7 vs 50.1 in November). Meanwhile, manufacturing activity (PMI at 47.6 vs 48.8) remained in solid contraction, marking a eighth consecutive month of decline. New orders increased for a second month, led by services. On the price front, input costs and selling prices increased at their slowest rates in 22 and three months, respectively.