São Paulo – Services sector activity was down 2.2% in January from December, the Brazilian Institute of Geography and Statistics (IBGE) reported. Year-on-year in January, activity dropped by 7.3%.
Month-on-month, activity was up 5.5% in information and communication, but dropped in all other subsectors. Nominal services sector revenue dropped by 1% in January from December and 2% year-on-year. In the 12 months through January, services sector activity was down 5.2%.
*Translated by Gabriel Pomerancblum
