RIO DE JANEIRO, BRAZIL - The worsening of the Covid-19 pandemic in Brazil pushed the services sector deeper into contraction in April, with output at a 9-month low, according to the Purchasing Managers' Index (PMI) survey.
Brazil's services PMI fell to 42.9 in April from 44.1 in March, marking the largest contraction in output since July 2020, though less pronounced than the losses seen at the start of the pandemic.
Companies that reported a reduction mentioned, according to the survey by IHS Markit, business closures, restrictions, and an increase in coronavirus case numbers, taking the index . . .