RIO DE JANEIRO, BRAZIL - Private sector business activity in Brazil shrank in January for the first time since July, a purchasing managers’ survey showed on Wednesday, as a surging COVID-19 second wave threatens to hit economic growth in the first quarter and even push it into reverse.
The decline in activity was led by the dominant services sector, which shrank for the first time since August and at the fastest rate since July, according to IHS Markit’s latest PMI survey.
The headline Brazil services PMI fell to 47.0 from 51.1 in December. The composite PMI including . . .