Brazil’s service sector expanded at a slower pace in January amid a less favorable demand environment, survey results published by S&P Global showed on Wednesday.
The seasonally adjusted S&P Global Brazil Services Business Activity Index dropped to 51.3 in January from 53.7 in December. Nontheless, a score above 50 indicates expansion.
Among components, new orders and business activity grew at weaker rates, which prompted service providers to lower workforce numbers and downgrade output projections.
On the price front, input price inflation eased to the lowest level since May 2024 as some products were cheaper than in December, such as lubricants and fertilizers. As a result, selling price inflation was the weakest in seven months.
The composite output index dropped to 49.9 in January from 52.1 in December, indicating a broad stagnation in the Brazilian private sector activity.
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