(RTTNews) – Service sector activity in Brazil continued to decline in August, but at a slower rate due to the severe effect of the coronavirus pandemic, an IHS Markit survey showed Friday.
The IHS Markit Brazil Services business activity index rose to 49.6 from 42.5 in July.A reading below 50 suggests an industry contraction.
However, the score was the most productive since February, the era of contraction lasted six months.
The activity was reduced despite the accumulation of new frames for the first time in six months.Job losses continued for the sixth consecutive month and at a steady pace.
While corporations paid more for non-public protective appliances and clean-up products in the war opposed to covid-19, pressures on charges intensified and input value inflation peaked at five months.
The composite production rate rose from 47.3 to 53.9 in July, mainly due to manufacturing, the first expansion of the personal sector economy since February and the highest reading since early 2013.