BRAZIL: Service Sector Revenue Posts First Monthly Fall Since March

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

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