Brazilian services sector rallies in December, putting an end to pandemic losses

The volume of services provided in Brazil rose 1.4 percent in December, posting an overall 2021 growth rate of 10.9 percent. Per the Brazilian Institute of Geography and Statistics, the sector managed to recoup the pandemic losses incurred during 2020.

Last year’s result outstripped expectations, “sitting 6.6 percent above February 2020 levels, the highest since August 2015.” 

Services weigh massively on the Brazilian economy, and were the worst-affected sector by social isolation measures during the first year of the pandemic. But as vaccination advanced and governments began lifting restrictions, the sector rebounded — posting the highest growth rates and job opening numbers.