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LatinNews Daily - 14 January 2022

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In brief: Brazil’s services sector recovers losses in November

* Brazil’s national statistics institute (Ibge) has released the latest figures on the services sector, which show that the volume of services grew 2.4% in November 2021 compared with the previous month. This follows two months of negative performance, and recovers the losses accumulated in September-October, when services shrank a combined 2.2%. The services sector is now 4.5% above the pre-coronavirus (Covid-19) pandemic levels recorded in February 2020. “This recovery in the month of November brings the sector to the highest level in the last six years, equal to December 2015”, Rodrigo Lobo, an Ibge research manager, said, noting that the volume of services contracted in March last year because of Covid-19, and in September and October because of high prices in telecommunications and airline tickets. In year-on-year terms, the volume of services grew 10% in November 2021 compared with November 2020.