Brazil’s service sector grows 1.7% in June and posts 3rd straight monthly increase

Helped by the country's advance in vaccination against the coronavirus, the services sector not only widened the distance from its pre-pandemic level, but also reached its highest since May 2016.

RIO DE JANEIRO, BRAZIL - Brazil's service sector expanded in June for the 3rd consecutive month and well above expectations, closing the second quarter 2.4% above the pre-pandemic level and at its highest in 5 years, IBGE (Brazilian Institute of Geography and Statistics) data released on Thursday show.

The volume of services grew 1.7% in June compared to the preceding month, well above projections for a 0.2% increase.

IBGE data show that the sector closed the period from April through June up 2% over the first quarter, when a 3.1% increase was recorded.

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