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SÃO PAULO – The volume of services provided grew 2.6% in November compared to October, in the seasonally adjusted series, according to data from the Monthly Survey of Services. This is the sixth consecutive positive result, the Brazilian Institute of Geography and Statistics (IBGE) reported on Wednesday (13).
The result was above expectations: compared to October, the expectation of economists consulted by Refinitiv rose 1.2%, after the increase of 1.7% the previous month.
However, despite the accumulated gain of 19.2% in this rising semester, the result is still insufficient to offset the losses between February and May in the sector, which is still 3.2% below from the February level.
Compared to November 2019, the total volume of services decreased 4.8%, marking the ninth negative rate in a row in this index. Economists’ expectations were for a 6.2% drop, after a 7.4% retraction in the previous reading.
So far this year, the drop is 8.3% compared to the same period in 2019. In 12 months, the 7.4% drop maintained the downward trend that began in January (1.0%). This is the most intense negative result since the beginning of the series, which began in December 2012 for this indicator.
The five activities investigated in the survey grew from October to November, with an emphasis on transportation, auxiliary services to transportation and mail, which registered an increase of 2.4%, and services provided to families, which increased by 8, 2%. . Both were the most affected by the pandemic.
According to the PMS manager, Rodrigo Lobo, the activities in the service sector that are encountering the most difficulties are those in person, so the sector has not yet recovered the losses: “Activities such as restaurants, hotels, services provided for the family in general and passenger transport, whether air, land or underground, even showed improvements, but the need for social isolation has not yet allowed the sector to return to the pre-pandemic level ”, explains Lobo. Another highlight was the activity of professional, administrative and complementary services, with a growth of 2.5%.
Still in relation to transport, activity grew for the seventh consecutive month and accumulated a gain of 26.7% between May and November, but it still needs to advance by 5.4% to reach the level of last February, the month that preceded the implementation of sanitary measures. to contain Covid-19.
Lobo explains that, within the activity, the cargo transport segment by road influenced, along with passenger transport. “There is an important correlation between this segment and the positive rates that Commerce and Industry have been showing. Both have already exceeded the pre-pandemic level and their results interfere with this activity, ”he says.
Services provided to families, on the other hand, have increased by 98.8% in the last seven months, but still need to grow by 34.2% to return to the level of February. Finally, professional, administrative and complementary services reached a gain of 9.5% in the period from June to November, after a decrease of 16.8% between February and May.
Only information and communications services (0.5%) and other services (0.5%) have already exceeded the level of February, driven by the good performance of the information technology and auxiliary financial services segments, respectively.
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