In February 2026, volume de services in Brazil recorded a positive change of 0.1% from January 2026, in the seasonally adjusted series. As a result, the services sector is 20.0% above the level of February 2020 (pre pandemic) and reached, in February 2026, the peak of the time series, previously reached in November 2025. Against February   2025, volume of services increased by 0.5%, reaching its 23rd consecutive positive result. The cumulative index in the first two months of the year was 1.9%. The cumulative index over the last 12 months hit 2.7%, and reduced the level of increase against January (3.0%).

The increase in volume of services (0.1%), from January to February 2026, was followed by three of the five dissemination activities surveyed, with a highlight to information and communication services (1.1%) and transportation (0.6%), with the former recording a cumulative increase of 5.0% in the last three months; and the latter advancing 0.9% against December 2025. Services rendered to families (1.4%) also recorded an increase, having recovered from the loss of 0.5% registered in January and recorded the highest rate since March 2025 (1.8%). On the other hand, professional, administrative and complementary services (-0.3%) recorded the third consecutive negative rate, a period marked by a cumulative decrease of -0.7%. Also with negative results, other services (-0.4%) returned part of the decrease observed in the previous month (3.6%).

Also in the seasonally adjusted series, the quarterly moving average index for the total volume of services recorded stability (0.0%) in the quarter ended February 2026 against the immediately previous quarter. Among the sectors, also in relation to this marginal movement, only two of the five activities recorded a positive result, information and communication (1.6%), followed by services rendered to families (0.5%). On the other hand, transportation (-0.7%); other services (-0.4%); and professional, administrative and complementary services (-0.2%) recorded drops in this type of indicator. 

Against the same month a year ago, volume of services recorded an increase of 0.5% in February 2026, twenty-thid consecutive positive result. Advance was also observed in three of the five dissemination activities and recorded an increase of 44.6% of the 166 types of services investigated.

Among the sectors, information and communication (4.9%) accounted for the main positive impact in this comparison, driven by the increase in revenue of consulting in information technology; data handling, application service providers and hosting services on the Internet; portals, content providers and other information services on the Internet; software development and licensing; and on-demand development of computer programs. The other advances came from services rendered to families (4.2%) and from professional, administrative and complementary services (0.8%), mainly due to the higher income from restaurants; and hotels, in the first segment; and intermediation of businesses in general through e-commerce platforms or applications; advertising space brokerage; accomodation booking services; and legal activities, in the last one. The main negative impact came from transportation (-2.8%), followed by other services (-2.8%), driven, to a great extent, by the lower revenue from passenger air transport; cargo logistics and management of ports and terminals, in the first segment; and auxiliary financial services; complementary social security and insurance brokers, in the last one.

As for the cumulative index in January to February 2026, against the same period a year ago, the services sector recorded an increase of 1.9%, with three of the four dissemination activities recording positive rates and an increase of 45.2% of the 166 tyoes of services surveyed. Among the sectors, information and communication accounted for the most important positive contribution (5.6%), mainly due tot the increase in revenue of companies in the sectors of consulting in information technology; data handling, application service providers and hosting services on the Internet; portals, content providers and other information services on the Internet; on-demand development of computer programs.

The other advances came from professionall administrative and complementary services (2.4%); and services rendered to families (3.0%), mainly due to the revenue of companies in the segments of advertising space brokerage; intermediation of businesses in general through e-commerce platforms or applications; legal activities; accomodation booking services and allocation of temporary workforce, in the former sector;  and production and promotion of sports events; catering and other ready to eat food services; restaurants; and hotels, in the last one. On the other hand, transportation, support services to transportation and mailing (-1.0%) and other services (-0.4%) accounted for negative influences in this type of comparison, mainly as a consequence of the lower revenu from cargo transportation logistics; management of ports and terminals; mailing activities; and maritime and port support airport navigation and mailing, in the first sector; and auxiliary financial services; complementary social security and insurance brokers; administration of condos and shopping malls; and recovery of metallic minerals, in the last one.

13 of the 27 Federation Units recorded increase in volume of sales in February 

By area, just under half (13) of the 27 Federation Units recorded an increase in volume of services in February 2026, compared to the immediately preceding month, despite the slight positive change observed in the result for Brazil (0.1%) – seasonally adjusted series. Among the locations that showed positive rates in that month, the most significant impact came from Rio de Janeiro (1.0%), followed by Bahia (1.7%), Rio Grande do Sul (1.1%) and Mato Grosso do Sul (4.2%). In contrast, São Paulo (-0.4%) exerted the main negative influence of the month, followed by Mato Grosso (-1.3%), Pará (-1.8%), Espírito Santo (-0.8%) and Alagoas (-2.3%).

Compared to the same month a year ago, the expansion in volume of services in Brazil (0.5%) was accompanied by only 9 of the 27 Federation Units. The most significant positive contribution came from São Paulo (3.7%), followed by the Federal District (4.5%) and Mato Grosso (2.7%). Conversely, Rio de Janeiro (-3.6%) led the losses for the month, followed by Minas Gerais (-3.7%), Paraná (-3.8%), and Ceará (-7.4%).

In the first two months of 2026, against the same period of the previous year, the increase in volume of services in Brazil (1.9%) was widespread across the surveyed locations, as 15 of the 27 Federation Units  showed an expansion in real services revenue. The main positive impact in regional terms occurred in São Paulo (4.8%), followed by Mato Grosso (18.4%) and the Federal District (8.3%). On the other hand, Rio de Janeiro (-3.4%), Minas Gerais (-2.5%) and Paraná (-2.5%) registered the most significant negative influences on the national index.

After the third negative result, tourism activities record a cumulative decrese of 1.7%

After third consecutive negative result, tourism activities accumulate a 1.7% drop I

In February 2026, the tourism activity index showed a 0.9% contraction compared to the previous month, the third consecutive negative result, accumulating a loss of 1.7% during this period. As a result, the tourism sector is 11.4% above the level of February 2020 and, in February 2026, is operating 2.0% below the peak of its time series, reached in December 2024. Regionally, ten of the 17 locations surveyed followed this downward trend observed in national tourism activity (-0.9%). The most significant negative influence came from São Paulo (-1.8%), followed by Pará (-11.2%), Rio de Janeiro (-0.5%), Rio Grande do Sul (-2.0%), and Ceará (-2.6%). Conversely, Rio Grande do Norte (13.7%) led tourism gains this month, followed by Bahia (1.3%) and Pernambuco (2.1%).

As for the cumulative indicator for the first two months of 2026, the special aggregate of tourism activities showed an expansion of 3.0% compared to the same period last year, driven mainly by increased revenue obtained by companies in the sectors of catering, buffet and ready to eat food; restaurants; accomodation booking services; air passenger transport; and hotels. Regionally, ten of the seventeen areas surveyed also recorded positive rates, with gains from Rio de Janeiro (13.8%) and São Paulo (3.2%) standing out, followed by Bahia (6.7%), Pará (10.1%) and Amazonas (9.9%). Conversely, Minas Gerais (-6.2%) led the losses in tourism, followed by Santa Catarina (-4.6%) and Pernambuco (-4.9%).

Passenger transport is stable and freight transport increases by 0.9%

In February 2026, passenger transport volume in Brazil remained stable (0.0%) compared to the previous month, in seasonally adjusted terms, after three consecutive declines, accumulating a loss of 4.9%. Thus, in this reference month, the segment is 6.5% above the level of February 2020 (pre-pandemic) and 18.2% below February 2014 (the highest point in the time series). Meanwhile, freight transport volume showed growth of 0.9% in February 2026, after declining for two consecutive months, with a cumulative loss of 1.9%. Therefore, the segment is 3.9% below the highest point in its series (July 2023). Compared to pre-pandemic levels, freight transport is 38.8% higher than in February 2020.

Against he same month a year ago, without seasonal adjustment, passenger transport fell by 4.0% in February 2026, interrupting a sequence of seventeen consecutive positive results; while freight transport showed a contraction of 0.7%, in the same type of comparison, and similarly, ended a sequence of nine consecutive advances. In the cumulative indicator for the first two months of this year, passenger transport showed an expansion of 1.2% compared to the same period in 2025, while freight transport advanced 0.7% in the same investigated period.

The next release of the PMS, referring to the results for the month of March, will be on May 15th.

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