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Brazil Services Rise 0.1% in August, Extending Record Run to Seven Months

Analysts expect the IT- and transport-led expansion to cool in the coming months.

Overview

  • IBGE's services survey shows a seven‑month cumulative gain of 2.6%, with the sector now 18.7% above its pre‑pandemic level.
  • Output rose 2.5% from a year earlier in August, and the 12‑month rate reached 3.1%.
  • Four of five activity groups increased month over month, while information and communication fell 0.5%.
  • Services provided to households advanced 1.0% in August, and nominal revenue grew 0.6% on the month and 7.0% year over year.
  • The tourism activity index rose 0.8% and sits 11.5% above its pre‑pandemic level, as IBGE's Rodrigo Lobo cited resilience with transport and IT as key drivers.