Brazilian services sector up 0.9% in May, third high in four months -IBGE

Information technology services saw activity rise, reaching its highest level since January 2011.

RIO DE JANEIRO, BRAZIL - The services sector, boosted by information technology services and freight transportation, rose 0.9% from April to May, according to data from the monthly services survey released by IBGE on Tuesday.

According to the institute, this is the third high in four months. The result was above expectations. Economic analysts had expected an increase of 0.2% for the month.

Economists expect the service sector to continue its recovery path this year, as it suffered the most during the pandemic. But very significant increases are not likely.

Now that the worst effects of Covid-19 are . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?