LatinNews Daily - 11 February 2022

In brief: Brazil’s services sector posts strong 2021 result

* Brazil’s national statistics institute (Ibge) has released the latest figures on Brazil’s services sector, which show that the volume of services grew 1.4% in December 2021 compared with November, and 10.4% year-on-year. In the 12 months to December, the volume of Brazil’s services sector grew a cumulative 10.9%. Services were hard hit by the onset of the coronavirus (Covid-19) pandemic in February 2020, but the Ibge’s research coordinator, Rodrigo Lobo, notes that, “on the other hand, the pandemic brought business opportunities for services aimed at companies, like information technology, freight transport, storage, transport logistics and auxiliary financial services, which posted more expressive gains and compensated for the losses of face-to-face services”. The volume of Brazil’s services sector is now 6.6% above February 2020 levels.

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