The S&P Global PMI Brazil Services Business Activity Index rose to 49.3 in August 2025 from 46.3 in July, pointing to a further but only marginal decline in activity. Softer demand deterioration eased contractions in sales and output, though new business fell for a fifth straight month. All four service sectors monitored recorded declines, with the sharpest drop in finance and insurance. Firms remained cautious, shedding jobs amid weak inflows of new work, but optimism about the year ahead improved, supported by expectations of stronger demand. On the cost side, input price inflation accelerated, while output charges rose more modestly.