Brazil Services Slip 0.1% in November After Nine-Month Run, IBGE Says

Overview

• Seasonally adjusted volume fell 0.1% from October, the first decline after nine straight gains that cumulated 3.8%, with October revised to a 0.4% rise.
• On a year-over-year basis services grew 2.5%, with both the January–November and 12‑month accumulations at 2.7%; nominal revenue rose 0.6% month over month and 6.6% year over year.
• Transport (−1.4%) and information and communication (−0.7%) weighed on the aggregate, while professional and administrative services (+1.3%) and other services (+0.5%) advanced and services to families were flat.
• The sector’s level stood 20% above its pre‑pandemic mark and just 0.1% below October’s record, which IBGE and economists say reflects consolidation rather than a shift in trend.
• Seventeen of 27 federative units declined, led by drops in Distrito Federal (−3.4%), Amazonas (−3.0%), Bahia (−1.5%) and Rio de Janeiro (−1.4%), while Pará jumped 2.6% to a record on COP30‑related demand and Paraíba led monthly gains with 2.9%.