Volume of services retreats 0.9% in February
April 12, 2024 09h00 AM | Last Updated: April 15, 2024 04h47 PM
In the seasonally-adjusted series, volume of services in Brazil retreated 0.9% in February 2024 over January 2024, after registering three consecutive positive figures, a period in which it accumulated a gain of 1.5%.
| Period | Change (%) | |
|---|---|---|
| Volume | Nominal Revenue | |
| February 24 / January 24* | -0.9 | -1.7 |
| February 24 / February 23 | 2.5 | 6.8 |
| Cumulative January-February | 3.3 | 7.6 |
| Cumulative in the last 12 months | 2.2 | 5.9 |
| Source: IBGE, Directorate of Surveys, Coordination of Short-Term Statistics in Enterprises *seasonally-adjusted series | ||
As a result, the services sector was 11.6% above the level of February 2020 (pre-pandemic) and 1.9% below that of December 2022 (peak of the time series). In the seasonally-unadjusted series, it expanded 2.5% in February 2024 against February 2023, the second positive figure in a row.
Considering the cumulative index in the first two months this year, volume of services recorded an increase of 3.3% against the same period in 2023.
Having changed from 2.3% in January to 2.2% in February 2024, the cumulative index over the last 12 months lost dynamism, thus maintaining the downward path recorded since October 2022 (9.0%).
| Monthly Survey of ServicesVolume of Services Indicators, according to the dissemination activities February 2024 - Change (%) |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dissemination Activities | Month/Previous month (1) | Monthly (2) | Cumulative in the year (3) | Last 12 months (4) | ||||||||
| DEC | JAN | FEB | DEC | JAN | FEB | JAN-DEC | JAN-JAN | JAN-FEB | Up to DEC | Up to JAN | Up to FEB | |
| Volume of Services - Brazil | 0.5 | 0.5 | -0.9 | -1.8 | 4.0 | 2.5 | 2.4 | 4.0 | 3.3 | 2.4 | 2.3 | 2.2 |
| 1. Services rendered to families | 4.3 | -2.9 | 0.4 | 8.0 | 3.7 | 5.6 | 4.8 | 3.7 | 4.6 | 4.8 | 4.2 | 3.8 |
| 1.1 Lodging and feeding services | 5.5 | -3.9 | 0.6 | 9.6 | 3.7 | 4.9 | 5.0 | 3.7 | 4.2 | 5.0 | 4.4 | 3.9 |
| 1.1.1 Lodging | - | - | - | 7.7 | -4.0 | -1.4 | 7.7 | -4.0 | -2.9 | 7.7 | 5.2 | 2.6 |
| 1.1.2 Feeding | - | - | - | 7.8 | 6.9 | 7.0 | 4.2 | 6.9 | 7.0 | 4.2 | 4.0 | 3.9 |
| 1.2 Other services rendered to families | -1.6 | 3.6 | -1.9 | -2.1 | 4.0 | 10.2 | 3.6 | 4.0 | 6.8 | 3.6 | 2.8 | 3.2 |
| 2. Information and communication services | 0.7 | 1.2 | -1.5 | 3.2 | 6.7 | 5.6 | 3.5 | 6.7 | 6.2 | 3.5 | 3.7 | 3.7 |
| 2.1 Information and communication technology services (ICT) | 0.2 | 1.2 | -0.1 | 5.6 | 6.1 | 5.4 | 4.0 | 6.1 | 5.7 | 4.0 | 4.2 | 4.0 |
| 2.1.1 Telecommunications | 0.7 | 0.2 | 1.1 | 9.0 | 5.1 | 6.3 | 3.5 | 5.1 | 5.7 | 3.5 | 4.0 | 4.4 |
| 2.1.2 Information technology services | -1.9 | 3.7 | -1.5 | 3.1 | 7.3 | 4.3 | 4.6 | 7.3 | 5.8 | 4.6 | 4.3 | 3.6 |
| 2.2 Audiovisual services | -6.4 | 25.7 | -2.6 | -13.3 | 11.8 | 7.8 | -0.3 | 11.8 | 9.8 | -0.3 | 0.7 | 1.1 |
| 3. Professional, administrative and complementary services | -1.5 | 1.0 | -1.9 | -1.2 | 4.9 | 2.6 | 3.7 | 4.9 | 3.8 | 3.7 | 3.6 | 3.6 |
| 3.1 Technical-professional services | -6.0 | 11.3 | -4.8 | -3.8 | 11.0 | 7.7 | 4.4 | 11.0 | 9.4 | 4.4 | 4.6 | 4.7 |
| 3.2 Administrative and complementary services | -1.3 | -0.2 | -0.3 | -1.5 | 1.4 | -0.4 | 3.3 | 1.4 | 0.5 | 3.3 | 2.8 | 2.7 |
| 3.2.1 Non-real estate rentals | -0.2 | 3.8 | -7.3 | 9.2 | 11.5 | 3.2 | 18.8 | 11.5 | 7.4 | 18.8 | 17.0 | 15.4 |
| 3.2.2 Support services to business activities | -3.6 | 0.1 | -0.9 | -4.8 | -1.9 | -1.6 | -1.0 | -1.9 | -1.7 | -1.0 | -1.2 | -1.0 |
| 4. Transportation, support activities for transportation and mailing | 0.5 | 0.3 | -0.9 | -6.0 | 2.0 | -0.8 | 1.5 | 2.0 | 0.6 | 1.5 | 1.3 | 0.9 |
| 4.1 Land transportation | -1.1 | 1.7 | -1.1 | -3.1 | 4.8 | 1.8 | 6.1 | 4.8 | 3.3 | 6.1 | 5.4 | 4.8 |
| 4.1.1 Road cargo transportation | - | - | - | 4.4 | 10.0 | 3.5 | 10.1 | 10.0 | 6.7 | 10.1 | 10.7 | 10.8 |
| 4.1.2 Road passenger transportation | - | - | - | -15.3 | -3.5 | -3.2 | -2.1 | -3.5 | -3.4 | -2.1 | -4.2 | -5.5 |
| 4.1.3 Other segments of road transportation | - | - | - | -9.2 | -1.8 | 2.3 | 2.2 | -1.8 | 0.2 | 2.2 | 1.4 | 1.0 |
| 4.2 Water transportation | 3.9 | 1.8 | 1.8 | 4.8 | 5.0 | 8.2 | 5.7 | 5.0 | 6.6 | 5.7 | 5.2 | 5.1 |
| 4.3 Air transportation | -5.4 | 7.2 | 3.4 | -23.4 | -10.1 | -11.0 | -0.8 | -10.1 | -10.5 | -0.8 | -0.9 | -2.0 |
| 4.4 Storage services, support activities for transportation and mailing activities | 5.3 | -3.8 | -0.7 | -9.2 | -0.1 | -5.0 | -7.4 | -0.1 | -2.6 | -7.4 | -7.0 | -7.0 |
| 5. Other services | -1.4 | 0.2 | -1.0 | -10.8 | 3.1 | 3.8 | -1.8 | 3.1 | 3.5 | -1.8 | -1.5 | -1.3 |
| 5.1 Sewage, waste management, material recovery and decontamination | - | - | - | -0.4 | 1.3 | 1.5 | 3.2 | 1.3 | 1.4 | 3.2 | 3.2 | 3.0 |
| 5.2 Support activities to financial services | - | - | - | -15.0 | 3.0 | 3.5 | -5.3 | 3.0 | 3.2 | -5.3 | -4.9 | -4.3 |
| 5.3 Real estate activities | - | - | - | 18.9 | 8.0 | 10.8 | 14.2 | 8.0 | 9.3 | 14.2 | 13.1 | 13.0 |
| 5.4 Other services not previously specified | - | - | - | -5.0 | 1.8 | 2.2 | 4.6 | 1.8 | 2.0 | 4.6 | 3.2 | 2.5 |
| Source: IBGE, Directorate of Surveys, Coordination of Short-Term Statistics in Enterprises (1) Base: immediately previous month - seasonally-adjusted; (2) Base: same month in the previous year; (3) Base: same period in the previous year; (4) Base: 12 previous months. | ||||||||||||
The retraction in volume of services between January and February 2024 was followed by four out of five dissemination activities investigated, highlighted by the retreat coming from professional, administrative and complementary services (-1.9%), which offset the gain obtained in January (1.0%). The other retractions came from information and communication (-1.5%), transportation (-0.9%) and other services (-1.0%), the first sector losing part of the cumulative gain over the last four months (3.6%); the second one offsetting the advance of 0.8% registered between December 2023 and January 2024; and the last sector retreating after slightly increasing in January (0.2%).
Conversely, services rendered to families (0.4%) recorded a slight positive change after retreating 2.9% in January.
Still in the seasonally-adjusted series, the evolution of the quarterly moving average index for the total volume of services pointed to a stability (0.0%) in the quarter ended in February 2024 against the previous month. Among the sectors, negative and positive rates were balanced: professional, administrative and complementary services (-0.8%) and other services (-0.7%) retracted, whereas services rendered to families (0.6%) and information and communication (0.1%) grew in this indicator.
Having registered a null change in February, the sector of transportation (0.0%) repeated the result of the global volume of services.
Compared with February 2023, volume of the services sector expanded 2.5% in February 2024, the second positive figure in a row. This month’s advance was followed by four out of five activities and also recorded increases in 59.6% of the 166 types of services surveyed.
Among the sectors, information and communication (5.6%) exerted the major positive impact, mainly leveraged by the increase in the revenue in telecommunications, software development and licensing, technical support, maintenance and other services in information technology, open TV, and edition integrated to book printing. The other advances came from professional, administrative and complementary services (2.6%), services rendered to families (5.6%) and other services (3.8%).
In contrast, the only negative result came from the sector of transportation, support services to transportation and mailing (-0.8%), especially pressed by the smaller revenue of companies in the sector of port and terminal management, air transportation of passengers, mass road transportation, and cabotage transportation.
As for the cumulative index in the first two months of 2024, against the same period a year ago, the services sector expanded 3.3%, with positive rates in all the five dissemination activities and an increase in 62.7% of the 166 types of services investigated. Among the sectors, the most important positive contribution came from the sector of information and communication (6.2%). The other advances were in professional, administrative and complementary services (3.8%), services rendered to families (4.6%), other services (3.5%) and transportation, support services to transportation and mailing (0.6%).
Services fall in 14 out of 27 Federation Units in February
In regional terms, most (14) of the 27 Federation Units registered a retraction in volume of services in February 2024, compared with the previous month. Among the places that reported negative rates this month, the most important impact came from São Paulo (-1.0%), followed by Paraná (-2.5%), Rio de Janeiro (-0.7%), Mato Grosso (-2.7%), Ceará (-1.3%) and Espírito Santo (-1.4%).
On the other hand, Bahia (0.9%), followed by Pará (1.7%) and Rio Grande do Norte (3.5%) were the major positive contributions this month.
In the comparison with February 2023, the advance in volume of services in Brazil (2.5%) was observed in 22 out of 27 Federation Units. The most important positive contributions came from Rio de Janeiro (4.0%) and Minas Gerais (5.6%), followed by Paraná (6.3%), Santa Catarina (8.4%), Federal District (9.9%), São Paulo (0.5%) and Rio Grande do Sul (4.6%). On the other hand, Mato Grosso (-8.8%) led the losses this month.
The cumulative index in the first two months of 2024, against the same period a year ago, shows that the advance in volume of services in Brazil (3.3%) was spread over the places surveyed, since 23 out of 27 Federation Units recorded increases in real services revenue.
The major positive impact in regional terms occurred in São Paulo (1.3%), followed by Rio de Janeiro (4.6%), Paraná (8.5%), Minas Gerais (5.5%) and Santa Catarina (9.0%). Conversely, Rio Grande do Norte (-2.1%) and Mato Grosso (-0.6%) registered the most important negative influences on the national index.
Tourism activities drop 0.8% in February
In February 2024, the index of tourism activities reduced 0.8% over the previous month, the second retreat in a row, a period in which it accumulated a loss of 1.8%. As a result, the tourism segment was 2.2% above the level of February 2020 and 4.3% below the peak of the time series, reached in February 2014.
In regional terms, six out of 12 places surveyed followed the retraction movement reported in the national tourism activity (-0.8%). The most important negative influence came from São Paulo (-2.9%), followed by Santa Catarina (-3.7%), Ceará (-5.4%) and Minas Gerais (-1.5%). Conversely, Federal District (8.3%) and Bahia (2.4%) recorded the major advances in regional terms.
In the comparison between February 2024 and February 2023, volume of tourism activities in Brazil increased 0.3%, the 35th positive rate in a row, mainly due to the increase of revenue of companies in the segments of restaurants, catering services, travel agencies, and theater and performances.
In regional terms, six out of 12 FUs where the indicator is investigated advanced in tourism services, highlighted by Minas Gerais (4.9%), followed by Rio de Janeiro (2.6%) and Bahia (5.7%). On the other hand, Espírito Santo (-12.2%), Goiás (-8.9%), Rio Grande do Sul (-3.4%) and Federal District (-3.9%) exerted the major negative impacts this month.
In the cumulative index in the first two months of 2024, tourism activities expanded 0.3% over the same period last year.
In regional terms, six out of 12 places investigated also recorded positive rates, highlighted by the gains coming from Minas Gerais (7.6%), followed by Rio de Janeiro (3.6%), Bahia (3.2%) and Pernambuco (4.0%). In contrast, Federal District (-7.5%), Rio Grande do Sul (4.8%), Goiás (-8.6%) and Espírito Santo (-10.3%) reported the most important negative impacts on the cumulative index in the year in tourism.
In February, cargo transportation falls and that of passengers remains nearly stable
In the seasonally-adjusted series, volume of passenger transportation in Brazil slightly increased 0.1% in February 2024 over January, the second consecutive positive figure, a period in which it registered a cumulative gain of 2.9%. In this reference month, this segment was 5.4% below the level of February 2020 (pre-pandemic) and 27.3% below that of February 2014 (peak of the time series).
After advancing 0.8% in January, volume of cargo transportation decreased 1.4% in February 2024. Therefore, this segment stood 5.5% below its peak in the time series (July 2023). In comparison with the pre-pandemic level, cargo transportation was 34.3% above that of February 2020.
In the comparison between February 2024 and February 2023, without seasonal adjustment, passenger transportation reduced 5.6%, the fourth setback in a row, whereas cargo transportation grew 3.7%, recording the 42nd consecutive positive result.
Concerning the cumulative indicator in the first two months of the year, passenger transportation retracted 5.7% over the same period in 2023, whereas that of cargo advanced 5.5% in the same period investigated.
