empty
 
 

2017.11.0608:48:00UTC+00Brazil Service Sector Shrinks In October

Brazil's service sector returned to contraction in October driven by a fall in output and new work, the purchasing managers' survey data from IHS Markit showed Monday.

The IHS Markit Brazil Services PMI Business Activity Index dropped to 48.8 from 50.7 in September.

The drop largely reflected the subdued consumer confidence amid political and economic uncertainties, the survey said.

The Composite PMI, which combines manufacturing and services, declined to 49.5 from 51.1 in the previous month. The decrease came despite further expansion in manufacturing.

"Uncertainty among Brazilian consumers and businesses negatively impacted on the service sector in October, as evidenced by renewed declines in new work and dwindling sentiment," Pollyanna De Lima, principal economist at IHS Markit, said.

"The majority of panelists attributed these outcomes to subdued demand conditions alongside political and economic issues."

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback