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LatinNews Daily - 14 July 2021

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In brief: Brazil’s services sector returns to pre-pandemic levels

* Brazil’s national statistics institute (Ibge) has released the latest figures on the services sector, which grew 1.2% in May compared with April. In April-May this year, the services sector grew an accumulated 2.5%, recouping some of the losses recorded in March, when the services sector shrank by 3.4% due to a virulent second wave of coronavirus (Covid-19) infections. With the May results, Brazil’s services sector has returned to pre-pandemic levels as it now finds itself 0.2% above February 2020 levels. In year-on-year terms, the services sector grew 23% in May this year, reflecting the severe impact of Covid-19 on the economy during the early months of the pandemic last year.