Service sector in Brazil ends the first half on a high

Last Thursday (10), a survey presented by the Brazilian Institute of Geography and Statistics (IBGE) revealed that the service sector in Brazil ended the first half of 2023 with an increase of 4.7%. This expansion resulted from an increase of 0.2% from May to June, largely driven by the partial recovery of professional, administrative and complementary services.

Compared to June of the previous year, there was an increase of 4.1%. Several segments contributed to this positive growth, including business activities, management of discount cards and loyalty programs, as well as engineering companies. In the month of June, services aimed at families had an increase of 1.9%, increasing 4.1% during the quarter.

The information and communication sectors remained in the positive field (0.5%) for the second consecutive month, accumulating an increase of 1.3% over this period. However, the transport sector experienced a negative variation of -0.3%, after a 2.2% growth in the previous month.

Compared to the beginning of the year, this scenario is considered positive, since the volume of services provided in the country plummeted in January, according to data also released by the IBGE. The drop was 3.1%. It is worth mentioning that the services sector represents almost 70% of the Brazilian Gross Domestic Product (GDP). In view of this improvement in the segment, many questions arise as to whether it will be one of the pillars that will help in the recovery of the economy in the country in 2023.