Brazil’s service sector shrunk for a third consecutive month in December as demand stagnated, survey data from IHS Markit showed Thursday.
The IHS Markit Brazil Services Purchasing Managers’ Index dropped to 47.4 in December from 46.9 in November.
A reading below 50 suggests contraction in the sector. Services output fell for a third straight month.
The Composite PMI, which combines manufacturing and services, eased slightly to 48.8 from 48.9 in December.
The reduction was the third in as many months and reflected another downturn in services output, with manufacturing firmly in expansion mode, IHS Markit said.
The material has been provided by InstaForex Company – www.instaforex.com
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