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LatinNews Daily - 14 January 2021

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In brief: Brazil’s services sector continues slow recovery

* Brazil’s national statistics institute (Ibge) has released the November 2020 figures for the performance of the services sector, which expanded by 2.6% compared with October, the sixth consecutive month of positive growth, following the sharp downturn between February and May as a result of the onset of the coronavirus (Covid-19) pandemic. The services sector has still not recouped earlier losses, however, remaining 3.2% below February levels. Year-on-year, the sector contracted by 4.8% in November, while it has accumulated a negative performance of -8.3% in January-November 2020. Ibge researcher, Rodrigo Lobo, notes that the need for social isolation to contain the pandemic has continued to negatively affect in-person services, such as the food & hospitality industry, services to families, and passenger transport.