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13/07/2017 - 13:28hs

Services sector shrinks 4.4%

The decline took place from January to May in comparison to the same period of last year.

Rio de Janeiro – The services sector ended the first five months of the year with a cumulative delince of 4.4% over the same period of last year, despite the 0.1% growth registered in May, which left it practically stagnant over April. Year-over-year, the services sector has shrunk 4.7%.

The data came out this Thursday (13), provided by the Brazilian Institute of Geography and Statistics (IBGE) and is part of the Monthly Survey of Services. The data indicates that in the comparison between May 2017 and May 2016, the services sector declined 1.9%.

In the comparison with April, the sector’s nominal revenues ended May going up 0.3%. In the first five months of the year, services’ nominal revenues increased 1.3%, but shrunk 0.4% year-over-year. In comparison between May to the same month of last year, nominal revenues climbed 3.9%.

*Translated by Sérgio Kakitani

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