FX.co ★ Brazilian Service Sector Contracts by 0.9% in February 2024

In a recent update on 12th April 2024, data revealed that the Brazilian service sector experienced a contraction of 0.9% in February 2024. This decline marks a stark contrast to the previous month of January 2024 when the sector saw growth of 0.7%. The comparison of the month-over-month change indicates a significant setback in the Brazilian service industry, raising concerns about the economic stability of the country. This unexpected contraction may have implications for the overall economic performance of Brazil and could signal challenges ahead for the service sector in the coming months.