Brazil’s service sector revenue in July decreased 0.8% from June and 3.2% compared to the same month a year earlier, according to inflation-adjusted data from the national statistics office.
All but one of the six segments of the Brazilian service sector had a negative performance in the monthly comparison, while half of them posted a revenue decrease compared to July 2016.
Roberto Saldanha, a manager at the Brazilian statistics office, said that July was the last month in which workers had early access to part of the resources of a severance fund.
“We can assume that an improvement in families’ income helped to boost service consumption,” he said.
He added that in spite of July coinciding with school vacations, the travel segment had a negative performance because of the increase in air travel prices, among other factors.
The material has been provided by InstaForex Company – www.instaforex.com
Latest posts by Insta Forex (see all)
- ARGENTINA: Merval Gives Up Earlier Gains But Ends Session With Slight Rise - November 22, 2017
- COLOMBIA: Colcap Rises Slightly Driven By Ecopetrol - November 22, 2017
- BRAZIL: Ibovespa Falls Slightly, Reacting To Fed And Pension Reform News - November 22, 2017