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Services fall 0.9% in November, after reaching peak of time series

Section: Economic Statistics | Luiz Bello

January 15, 2025 09h00 AM | Last Updated: January 15, 2025 03h16 PM

Decline of 2.7% in transportation contributed to the decreaase in volume of services in November - Photo: IBGE collection

In November 2024, the volume of services in the country fell 0.9% compared to October, in the seasonally adjusted series. This decline occurred one month after the sector reached its highest volume in the time series of the IBGE's Monthly Survey of Services (PMS), which began in January 2011. Thus, the services sector is 16.9% above the pre-pandemic level (February 2020).

Two of the five service activities surveyed showed negative rates compared to the previous month: transportation (-2.7%) and professional, administrative and complementary services (-2.6%). On the other hand, information and communication activities (1.0%), other services (1.8%) and services rendered to families (1.7%) showed advances compared to October 2024.

Rodrigo Lobo, manager of the IBGE Monthly Survey of Services, notes that “despite the sectoral concentration of negative rates, several segments showed a loss of revenue in these two activities, with declines in cargo and passenger transportation, in the first sector, and in legal activities, engineering services and business management consulting, in the latter”.

In relation to November 2023, the services sector grew 2.9%, its eighth positive result in this comparison. This increase was seen in four of the five activities and by 56.0% of the 166 services surveyed. The main positive impact in this comparison came from information and communication (6.6%), with the remaining increases coming from transportation, support services in transportation and mailing (2.7%), services rendered to families (5.0%) and professional, administrative and complementary services (0.4%).

The only negative influence came from other services (-1.0%), due to the reduction in revenues from auxiliary financial services, agricultural support activities and non-hazardous waste collection.

Information and communication lead the year-to-date gains

The year-to-date rate, compared to 2023, grew 3.2%, with positive rates in four of the five activities and in 61.4% of the 166 types of services covered by the PMS. The most important positive contributions came from two sectors. The first, information and communication, grew 6.4% and was driven by the telecommunications segments; portals, content providers and other information services on the Internet; and software development and licensing.

The second sector was professional, administrative and complementary services, which grew 6.7% with contributions from the segments of advertising space agencing; legal activities; and business intermediation through applications or e-commerce platforms. Other advances came from services rendered to families (4.7%) and other services (1.9%).

Rodrigo Lobo explains that “services show the leading role of the Information and Communication sector, which leads both in the telecommunications segment (5.2%) and in information technology services (7.9%)”.

Tourism activities fall 1.8% in November

In November 2024, after reaching the peak point in the PMS time series, the tourism activities index fell 1.8% compared to October. Thus, the volume of these activities is 11.1% above the level of February 2020.

Eleven of the 17 locations showed negative rates compared to October. The most significant negative impact was in São Paulo (-2.6%), followed by Paraná (-2.3%), Pará (-6.9%) and Ceará (-3.7%). The positive highlights were Rio Grande do Sul (6.6%), Rio de Janeiro (0.8%) and Goiás (3.5%).

In comparison with November 2023, the volume of tourism activities in Brazil grew by 9.2%, its sixth consecutive increase. There were positive rates in 15 of the 17 states where the indicator is investigated, with a highlight to São Paulo (7.9%), Rio de Janeiro (10.5%), Bahia (14.2%), Paraná (13.6%) and Santa Catarina (15.9%). The two negative impacts of the month came from Rio Grande do Sul (-0.7%) and Mato Grosso (-1.2%).

For the manager of the IBGE Monthly Survey of Services, “the increase in airfare prices in November exerted significant negative pressure on the real revenue of airlines, which ended up having a significant negative impact on the special tourism indicator this month”.

Passenger transportation falls 3.4% and cargo transportation falls 1.4%

In November 2024, the volume of passenger transportation in Brazil fell 3.4% compared to October, in the seasonally adjusted series. As a result, the segment is 7.9% above the pre-pandemic level (February 2020) and 16.6% below the peak of the time series (February 2014).

Cargo transportation, on the other hand, fell 1.4% and is 6.6% below the highest point of its series (July 2023) and 34.2% above the pre-pandemic level.

More about the survey

The PMS allows for the monitoring of the services sector in the country, investigating gross revenue from services in formally constituted companies, with 20 or more employees, which have non-financial services as their main activity, excluding the areas of health and education. There are results for Brazil and all the Federation Units. The results can be consulted at Sidra.

This is the twenty-second release of the new series of the survey, which has undergone updates in the sample of companies and in its methodology, planned and implemented periodically by the IBGE. The next release of the Monthly Survey of Services, related to the month of October, will be on February 12.



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