The S&P Global Composite PMI for Brazil rose to 48.8 in August 2025 from the lowest since early 2021 of 46.6 in July, indicating a softer contraction in aggregate private-sector activity. Manufacturers (47.7 vs 48.2) remained in contraction while service providers improved to near-stability (49.3 vs 46.3). New orders decreased at a moderate pace that was less pronounced than in July across both sectors, reflecting continued but easing demand weakness. Private-sector employment fell for the second month in a row, with reductions across goods producers and service providers. The rate of job shedding was moderate but the fastest in over four years. Input-cost inflation ticked higher, while output charges rose at a slower pace than in July.