LatinNews Regional Monitor: Brazil & Southern Cone - 14 February 2020

* Brazil’s national statistics institute (Ibge) has released figures which show that the services sector closed the year 2019 with a 1% year-on-year expansion, the first positive result for Brazil’s services sector in five years. The value of the services sector contracted 0.4% in December 2019 compared with November 2019, but expanded 1.6% compared with December 2018. “This increase is important, but we are still far from reaching the best result in the services sector”, Rodrigo Lobo, the director of the Ibge’s services’ sector survey, said, recalling that this sector accumulated losses of 11% between 2015 and 2017.

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