Brazil’s service sector shrunk for a 3rd consecutive month in December as demand stagnated, study data from IHS Markit revealed Thursday.
The IHS Markit Brazil Providers Purchasing Managers’ Index dropped to 47.4 in December from 46.9 in November.
A reading listed below 50 recommends contraction in the sector. Services output fell for a third straight month.
The Composite PMI, which combines manufacturing and services, alleviated somewhat to 48.8 from 48.9 in December.
The decrease was the 3rd in as many months and showed another decline in services output, with manufacturing firmly in growth mode, IHS Markit stated.
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