Service sector grows in November after two-month skid

Brazil’s services sector reported 2.4-percent growth in November from one month prior. The result surpassed expectations and put an end to a two-month downturn, recovering from an accumulated loss of 2.2 percent. The overall service sector’s output is now 4.5 percent above pre-pandemic levels — but still 7.3 percent below its November 2014 peak.

“This recovery in November also places the sector at the highest level of the last six years, equaling the level of December 2015,” highlighted Rodrigo Lobo, a researcher at the Brazilian Institute of Geography and Statistics.

Of the five segments monitored by the survey, four rose in November, with information and communication services being the highlight, with a 5.4-percent increase.