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Brazil's service sector falls in November, ending nine-month streak

ReutersJan 13, 2026 12:39 PM

- Brazil's services activity slipped in November from the previous month, data from the statistics agency IBGE showed on Tuesday, missing market forecasts and breaking a nine-month streak of positive results as tight financial conditions bite.

  • The main driver of Latin America's largest economy fell 0.1% in November compared to the previous month, IBGE said.

  • Economists in a Reuters poll had expected a 0.2% increase.

  • Activity dropped in two of the five groups surveyed, with transport posting the sharpest decline.

  • Price increases in the service sector remain a concern for the central bank, which has kept Brazil's benchmark interest rate at 15%, a near two-decade high, to curb inflation.

  • Year-on-year, services output grew 2.5%, also missing expectations of a 3.0% rise.

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