Volume of services grew 1.0% in September 2024. As a result, the services sector renewed the peak of its time series, surpassing by 0.6% the previous peak level (July 2024). Moreover, total volume of services is 16.4% above the pre-pandemic level, whose milestone is February 2020.

Rodrigo Lobo, manager of the IBGE´s Monthly Survey of Services notes that "in September, a number of sectors leveraged volume of services, like engineering companies, production of music festivals, pipeline transportation and book publishing integrated with printing. On the other hand, more constant increases of revenue are seen in information technology, agencying of advertisement in digital media, intermediation of businesses through applications or e-commerce platforms and administration of discount cards and rewards programs. The economic scenario might even enhance the growth of services, but it alone does not explain the good performance of the sector."

In September 2024, positive rates prevailed both in sectoral terms and in regional terms, since four out of five activities and 16 out of 27 Federation Units investigated expanded over the previous month.

The activity of professional, administrative and complementary services (1.4%) was the major positive influence on the month´s index. Other rises occurred in information and communication (1.0%), transportation (0.7%) and services rendered to families (0.4%). The only retreat this month was in other services (-0.3%). In terms of regions, São Paulo (1.0%) and Rio de Janeiro (2.6%) led the gains in the services sector.

Lobo notes that "the most innovative companies, with large revenues, are headquarted in São Paulo, like information technology services, agencying of advertisement in social media, administration of discount cards and rewards programs, and intermediation of businesses through applications and e-commerce platforms. The state of Rio de Janeiro stood out in September, due to a large music festival in its capital."

In the seasonally-unadjusted series, volume of services grew 4.0% compared with September 2023, the sixth consecutive positive figure in this comparison. The cumulative index in the year reached 2.9% over the same period in 2023 and the cumulative rate in 12 months hit 2.3%, the highest rate since April 2024 (2.5%).

The comparison with the same month in 2023 showed a a sectoral and regional widespread rise, since four out of five activities and 19 out of 27 Federation Units advanced. In addition, the diffusion index of September 2024 reached 60.2%, with positive rates in 100 out of 166 types of services surveyed.

Festival makes Rio de Janeiro lead Tourism Activities

In September 2024, the index of tourism activities rose 0.5% over August. As a result, the segment of tourism is 8.1% above the level of February 2020 and only 0.2% below the peak in the time series (February 2014).

These activities grew in six out of 17 places surveyed, with Rio de Janeiro (14.9%) giving the most relevant positive contribution, due to a large music event. On the other hand, the major retreats were in São Paulo (-1.0%) and Bahia (-4.9%), followed by Goiás (-4.9%) and Santa Catarina (-3.1%).

Volume of tourism activities in Brazil grew 2.2% in relation to September 2023, the fourth consecutive positive figure, leveraged by the increase in the revenue of restaurants, music and theater shows, travel agencies, air transportation of passengers, and reservation services related to accommodation.

Nine out of 17 Federation Units in which the indicator is investigated advanced in services directed to tourism, highlighted by Rio de Janeiro (9.5%) and followed by Minas Gerais (6.0%), São Paulo (1.4%), Paraná (5.7%) and Ceará (10.1%). JIn contrast, the major negative impacts this month came from Rio Grande do Sul (-15.8%) and Mato Grosso (-20.0%).

Transportation of passengers (2.1%) and cargo (0.4%) grow in September

In the seasonally-adjusted series, volume of passenger transportation in Brazil grew 2.1% in September 2024 over August, taking this segment to a rate 0.7% above the level in February 2020 (pre-pandemic), though still 22.1% below the level of February 2014, the peak in the time series.

Volume of cargo transportation grew 0.4% in September 2024. This segment is 7.2% below the peak in the time series (July 2023) and 33.2% above the level of February 2020 (pre-pandemic).

In the seasonally-unadjusted series, passenger transportation grew 3.7% over September 2023, whereas cargo transportation, in the same comparison, retreated 4.2%, the fifth setback in a row.

More about the survey

The Monthly Survey of Services 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 employing 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. The results are available on Sidra.

This is the 20th release of the new time series of the survey, which updated the sample of enterprises and its methodology, which are scheduled and periodically implemented by the IBGE. The next release of the Monthly Survey of Services, related to October, will be on December 11.