Brazil’s services activity grows by 17.8% y/y in July
Brazil’s services measured by a volume index recorded the fifth annual increase in a row in July, growing by 17.8% y/y, amid a rising number of vaccinated people in the country who substituted purchases of goods with expenditures on services.
Notably, the volume of services provided to families rose by 76.3% y/y in the seventh month of 2021, supported by hotels, restaurants, fitness activities, and amusement parks. In addition, the sub-index of transport and mail increased by 21% y/y in July, while one of information and communication services rose by 11.3% y/y.
Further data and analysis on Brazil’s economy are available on the CEIC Brazil Economy in a Snapshot – Q2 2021 report.