Volume of services falls 6.1% in Brazil

13 de julho de 2016

Rio de Janeiro – The volume of services decreased 6.1% in May of this year in comparison to the same period of last year. It’s the worst result for a month of May since records started being kept in 2012. It’s also the second steepest decline ever, losing only to the decrease of 6.4% registered in November 2015.

According to the Monthly Survey of Services (PMS) released this Wednesday (13) by the Brazilian Institute of Geography and Statistics (IBGE), services declined 0.1% over April of this year, 5.1% year-to-date and 4.8% year-to-year.

The sector’s nominal revenues increased 0.4% between April and May of this year. In the comparison with May 2015, there was a decline of 0.7%. Year-to-date and year-to-year, revenues registered increases of 0.2% and 0.4%, respectively.

*Translated by Sérgio Kakitani