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Brazil’s services sector stalled in July without meeting expectations
Brazil’s services sector recorded no growth in July compared with June, according to data released by government statistics agency IBGE on Thursday. The flat result came in line with no forecasts by economists, adding to signs of a slowdown in economic activity in the region’s largest economies.
Economists surveyed by Reuters had expected a 0.20% monthly increase for the sector.
On a year-on-year basis, services activity grew 0.90% in July, also below Reuters survey expectations of 1.10%.
The services sector accounts for about 70% of Brazil’s economy. IBGE analyst Luiz Carlos Almeida said the sector has been stuck in place since the start of the current year.
A firm jobs market and government stimulus measures have supported consumption, while restrictive monetary policy continues to weigh on activity in the sector.
#USAugustPPIRisesLessThanExpected #SECApprovesNasdaqTexasCommodityTrustRule #USContinuingJoblessClaims1.774M #USAugustPPIYoYRisesTo5.4% #AppleDebutsFoldablePhone
Brazil’s services sector stalled in July without meeting expectations
Brazil’s services sector recorded no growth in July compared with June, according to data released by government statistics agency IBGE on Thursday. The flat result came in line with no forecasts by economists, adding to signs of a slowdown in economic activity in the region’s largest economies.
Economists surveyed by Reuters had expected a 0.20% monthly increase for the sector.
On a year-on-year basis, services activity grew 0.90% in July, also below Reuters survey expectations of 1.10%.
The services sector accounts for about 70% of Brazil’s economy. IBGE analyst Luiz Carlos Almeida said the sector has been stuck in place since the start of the current year.
A firm jobs market and government stimulus measures have supported consumption, while restrictive monetary policy continues to weigh on activity in the sector.
#USAugustPPIRisesLessThanExpected #SECApprovesNasdaqTexasCommodityTrustRule #USContinuingJoblessClaims1.774M #USAugustPPIYoYRisesTo5.4% #AppleDebutsFoldablePhone
