LatinNews Daily - 15 September 2021

* Brazil’s national statistics institute (Ibge) has released the latest figures on the services sector, which show that the volume of services grew 1.1% in July compared with June. With the July result, Brazil’s services sector has accumulated 10.7% growth in 2021 so far and is now 3.9% above February 2020 levels, before the coronavirus (Covid-19) pandemic hit, and at its highest point since March 2016. In year-on-year terms, Brazil’s services sector expanded 17.8% in July, reflecting the low basis of comparison in July 2020. The Ibge’s research analyst, Rodrigo Lobo, notes that this July performance was driven by activity in services to families and in professional, administrative, & complementary services, the two categories in the services sector which suffered the most from Covid-19. Lobo further notes that, despite an increase in face-to-face services in July, non-presential services have helped sustain the sector’s recovery from the impact of the Covid-19 pandemic.

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