Brazil’s services sector down 1.2% in October

RIO DE JANEIRO, BRAZIL – The services sector in Brazil fell by 1.2% in October compared to September, informed the Brazilian Institute of Geography and Statistics (IBGE).

This state agency indicated in a press release that the services sector fell by 1.2% in October, but compared to October 2020, an advance of 7.5% was recorded, the eighth consecutive positive rate.

The 1.2% decline from September to October is due to poor results in four of the five areas analyzed, with the decrease in the information and communication sector (-1.6%) being particularly noteworthy.

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