MercoPress, en Español

Montevideo, November 24th 2020 - 00:54 UTC

 

 

Brazil's services activity in July rises but still 11,9% down from a year ago

Saturday, September 12th 2020 - 10:29 UTC
Full article
Four of five sectors surveyed by IBGE showed increases in activity from the previous month, notably a 2.2% rise in information and communications services Four of five sectors surveyed by IBGE showed increases in activity from the previous month, notably a 2.2% rise in information and communications services

Services activity in Brazil rose in July for a second straight month, figures showed on Friday, but the pace of growth was slower than forecast, suggesting the economy's rebound from the worst of the COVID-19 may not be quite so entrenched.

The sector expanded by a seasonally-adjusted 2.6% from the previous month, government statistics agency IBGE said, less than the 3.1% rate of growth a poll of economists forecasted.

Services sector output in July was down 11.9% from a year ago, IBGE said.

Four of the five sectors surveyed by IBGE showed increases in activity from the previous month, most notably a 2.2% rise in information and communications services, and a 2.3% increase in transport and transport-related services, IBGE said.

After surging 12.2% in June, services provided to families fell 3.9% in July, IBGE said.

June's rate of expansion in the services sector was revised up slightly to 5.2% from 5.0%. The figures mean that in the first seven months of the year, services sector activity in Latin America's largest economy fell 8.9% from the same period in 2019, IBGE said.

The level of service sector activity is still 22.2% lower than the peak in November 2014, IBGE said.

Categories: Economy, Politics, Brazil.

Top Comments

Disclaimer & comment rules

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!