July 3, 2019 / 1:17 PM / 4 months ago

Brazil services PMI 48.2 in June - IHS Markit

BRASILIA, July 3 (Reuters) - Brazil’s services sector activity shrank in June for the third month in a row, IHS Markit’s purchasing managers index survey showed on Wednesday, raising fears that the economy contracted in the second quarter and therefore slipped into recession.

The services PMI rose to 48.2 from 47.8 in May, but was still below the 50.0 mark separating contraction from expansion. Brazil’s composite PMI index, incorporating services and manufacturing, was 49.0, below 50.0 for the second month in a row, IHS Markit said.

Reporting by Jamie McGeever Editing by Chizu Nomiyama

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