(Corrects day of week in first paragraph)
BRASILIA, May 4(Reuters) - Services activity in Brazil stagnated in April, a private survey showed on Friday, the latest in a string of economic indicators suggesting the economic recovery hit a bump.
The Purchasing Managers Index (PMI) compiled by research firm Markit fell to 50.0 from 50.4 in March. The 50.0 milestone separates contraction from expansion.
Activity in Brazil’s services sector, which accounts for about 60 percent of the nation’s gross domestic product (GDP), had increased in the previous two months, albeit at a slower pace than the manufacturing sector.
The April reading should add to concerns over economic growth in 2018 after Latin America’s largest economy emerged from its deepest recession in decades last year.
“Brazilian companies have been treading water recently, with April seeing a broad-based slowdown in growth,” Markit economist Pollyanna De Lima said.
Weaker conditions for manufacturers in April helped to drive Markit’s composite PMI down to 50.6 from 51.5 in March, the lowest figure in the year.
Reporting by Bruno Federowski; Editing by Chizu Nomiyama