INSUBCONTINENT EXCLUSIVE:
This growth indicates that consumer spending remains strong, contributing to a positive GDP performance in the third quarter.The Brazilian
This growth exceeded the median estimate of 0.7% from 28 consultancies and financial institutions surveyed by Valor Data.Four out of five
activities monitored by the survey showed increases compared to August
Professional, administrative, and complementary services led the growth with a 1.4% increase
Information and communication services followed with a 1% rise
Transportation and services provided to families grew by 0.7% and 0.4% respectively
(Photo Internet reproduction)Rodrigo Lobo, the IBGE researcher responsible for the survey, highlighted the strength of professional,
administrative, and complementary services
He noted positive performances in engineering, information technology, discount cards, loyalty programs, musical events, and pipeline
transportation services.The information and communication segment played a crucial role in the 4% year-over-year growth
This category saw improvements in telecommunications, web portals, content providers, data processing, and IT consulting services
Lobo suggested that the election year might have positively influenced the demand for these services.Service Sector Growth Signals Robust
In September, the sector reached another record high with the 1% increase.Services provided to families, a focus for monetary policy
analysts, showed their fifth consecutive increase in September
However, this growth was primarily driven by atypical tourism events
Without these events, the segment might have declined, aligning with the expected slowdown in consumption and activity towards the end of
the year.Brazilian Service Sector Confidence Hits 7-Month HighThe Tourism Activities Index grew by 0.5% in September, boosted by events like
This growth placed the segment 8.1% above pre-pandemic levels and just 0.2% below its all-time high in February 2014.Economists view the
This strength is expected to contribute to positive economic performance in the third quarter of 2024
