Monthly Survey of Services
Volume of services increases once more and hits a record in June
August 13, 2024 09h00 AM | Last Updated: August 15, 2024 01h44 AM
Volume of services rendered in the country, after a negative change of 0.4% in May, increased once more in June. The sector increased by 1.7%, the biggest increase since December 2022, when it had recorded 2.7%. As a result, volume of services reached a record level in the series, 0.5% above the previous peak (December 2022). These data come from the Monthly Survey of Services, released today (13) by the IBGE.
In June, the sector was 14.3% above the pre-pandemic level, of February 2020. From June 2023, there was an increase of 1.3%. As for the cumulative increase in the first semester of 2024, volume of services decelerated, with a change from 1.2% in May to 1.0% in June.
"Growth was spread among the five activities surveyed, since they all expanded", points out Rodrigo Lobo, the manager of the survey. The main highlight was the increase in the transportation sector, which grew by 1.8%, recovering from the 1.5% loss registered in May. "This result is mainly due to air transportation, influenced by the drop in airfare prices. Pipeline transportation and maritime support navigation, activities related to mining and quarrying industries such as gas and crude oil, also contributed", said the researcher.
Another positive highlight was the information and communication sector, which rose by 2.0% after falling by 1.1% in the previous month, influenced by the positive results of information technology services, streaming services and telecommunications. "The information and communication sector also reaches the peak of its time series in June 2024. The behavior of technology services since the end of the pandemic has been crucial for the volume of services in the country, especially due to the considerable increase in services aimed at companies, notably information technology services," Lobo said.
The other increases came from professional, administrative and complementary services, which increased by 1.3%, recovering part of the 3.2% decline seen in the April-May period. In this sector, organization of events (except sports and cultural events), administration of discount cards and loyalty programs and engineering services stand out.
The 1.6% increase in other services makes up for the 1.5% drop registered in May, with auxiliary financial services, computer repair and maintenance and securities brokers as highlights. Finally, the positive change of 0.3% in services rendered to families "was motivated by theatrical and musical shows, influenced by the Cirque du Soleil tour in Rio de Janeiro," explains the PMS manager.
First half of 2024 ends with an increase of 1.6%
PMS also released the cumulative figures for the first half of 2024, in other words, from January to June, in comparison with the same period in 2023. In this indicator, the services sector rose by 1.6%, with four out of the five activities recording positive rates, as well as an increase in 55.4% of the 166 types of services investigated in the survey.
The most significant positive contribution among the sectors came from the information and communication (5.6%). The other advances came from professional, administrative and complementary services (2.1%); services rendered to families (4.6%); and other services (3.8%).
The only negative rate among activities in the first half of 2024 was transportation, auxiliary services for transportation and mailing (-2.5%).
In regional terms, 21 states saw increases in June; Rio Grande do Sul leads the declines
In the regional analysis of the PMS, from May to June 2024, 21 out of the 27 states recorded an increase in volume of services. The most significant positive impact came from São Paulo (2.6%), followed by Paraná (3.0%), Rio de Janeiro (1.4%), Minas Gerais (1.9%) and Santa Catarina (2.4%).
In contrast, Rio Grande do Sul (-14.5%) had the main negative influence in the month. The services sector in Rio Grande do Sul was affected by the floods that hit the state in May. "It should be noted that toll fees rose significantly in June (358.36%), since in May the concessionaires had stopped charging fares in order to facilitate the movement of vehicles carrying donations or involved in rescue operations for flood victims in the state. As a result, the impact of the floods in the state, in terms of volume of services, ended up appearing only this month," says Lobo.
In the first half of 2024 compared with the same period in 2023, 21 out of 27 states also saw an increase in real revenue from services, with the main positive impact coming from São Paulo (1.1%), followed by Rio de Janeiro (3.8%), Minas Gerais (4.3%), Paraná (4.0%) and Santa Catarina (5.2%). On the other hand, Rio Grande do Sul (-4.9%) and Mato Grosso (-6.4%) registered the most significant negative influences.
Tourism rises by 3.4% in all locations, including Rio Grande do Sul
The tourism activities index rose 3.4% in June compared with May, after having declined 0.9% from April to May. The tourism segment was 7.7% above the pre-pandemic level (February 2020) and only 0.1% below peak of the series (February 2014).
In the regional analysis, all 12 places surveyed rose, with São Paulo (4.0%) and Rio de Janeiro (8.2%) standing out, followed by Bahia (5.5%), Rio Grande do Sul (8.5%) and Minas Gerais (1.6%). "The state of Rio Grande do Sul recorded a significant drop in the indicator in May (-32.5%). With the depreciation base, the June rise only partially makes up for the losses of the previous month," explains the PMS manager.
In the first half of 2024, tourism expanded by 1.3% compared with the first half of 2023, with seven out of the 12 locations recording positive rates, especially Minas Gerais (9.0%) and Rio de Janeiro (5.0%), followed by Bahia (9.1%), Paraná (5.0%) and Santa Catarina (6.1%). In this indicator, Rio Grande do Sul had the main negative influence (-16.0%), followed by the Federal District (-5.4%), Espírito Santo (-8.8%) and Goiás (-4.9%).
Tourism indicator will be expanded from 12 to 17 locations
From September, in the Monthly Services Survey that will show the results for July 2024, the index of tourism activities will be expanded from the current 12 to 17 areas. The states of Amazonas (AM), Pará (PA), Rio Grande do Norte (RN), Alagoas (AL) and Mato Grosso (MT) will be added to the current units of the Federation already investigated: Ceará (CE), Bahia (BA), Pernambuco (PE), Minas Gerais (MG), Espírito Santo (ES), Rio de Janeiro (RJ), São Paulo (SP), Paraná (PR), Santa Catarina (SC), Rio Grande do Sul (RS), Goiás (GO) and the Federal District (DF).
Click here https://www.ibge.gov.br/novo-portal-destaques.html?destaque=40977 and read the technical note.
Passenger transportation increases and cargo transportation changes positively in June
The volume of passenger transportation in Brazil increased by 6.2% from May to June, after dropping by 6.7% in May. The sector was 1.9% above the level of February 2020 (pre-pandemic) and 21.2% below February 2014 (the highest point in the time series). In the first half of 2024, the activity dropped 2.6% against the same period in 2023.
The volume of cargo transportation recorded a positive change of 0.4% in June against the previous month, following a drop of 0.5% in May. As a result, the activity is 6.8% below the peak of its series (July 2023) and 33.7% above the pre-pandemic level (February 2020). In the first half of 2024, cargo transportation has a cumulative drop of 1.3%.
Mais sobre a pesquisa
PMS produces indicators to monitor the short-term behavior of the services sector in Brazil. The survey investigates the gross revenue from services in formal enterprises that employ 20 or more persons, in which the main activity is a non-financial service, excluding the areas of health and education. It produces results for Brazil and all the Federation Units. Results are available on Sidra.
This is the 18th release of the new series of the survey, which updated the sample of enterprises, as well as included methodological changes to portray economic changes in the society. They are updates already scheduled and periodically implemented by the IBGE. The next release of the Monthly Survey of Services, related to July, will be on September 11.
