Services sector advances 1.2% in August and is back to December 2017 level
October 16, 2018 09h00 AM | Last Updated: October 17, 2018 11h00 AM
The volume of services rendered in Brazil increased 1.2% between July and August this year, according to the Monthly Survey of Services (PMS), released today by the IBGE. With this result, the sector returned to the level it had in December 2017.
"When you look at the services sector within the year 2018, with its ups and downs, it looks like it did not record any changes. The sector is right at the same level it had by the end of 2017, " says PMS manager, Rodrigo Lobo.
Lobo also points out that August result must be analyzed together with those of the last months, so that one can understand how the truckers' strike had an impact on the sector.
"In May, when the truckers' strike occurred, the services sector had recorded a decline of 3.4%; conversely, in June it registered a more intense growth (4.9%); in July, there was a decrease (- 2.0%) and now, in August, growth again. As a result, the volume of services was 0.6% above the level of April, before the truckers' strike, " he says.
With the result of August, the services sector was 11.5% below the highest point of the time series of the survey, reached in November 2014. The PMS was first released in January 2012.
Transportation was the main positive influence in the sector
In August, three of the five surveyed activities grew. The highlight was the transportation sector (3.2%), with increase in the volume of road cargo transportation services, which is the main item in this segment, as well as in air transportation. "This growth in air transportation was driven by a deflation of airfares, which ends up increasing the volume of services," says Lobo.
The other activities that also showed growth this month were Administrative and complementary services (2.2%) and Other services (1.0%).
