LatinNews Daily - 14 November 2024

*Brazil’s national statistics institute (Ibge) has released its latest figures for the services sector, which showed that the volume of services provided rose by 1.0% from August to September. Compared to September last year, the sector grew by 4.0%. The accumulated growth in the 12 months until September 2024 came to 2.3%. Of the five categories of services measured, four registered a monthly rise in volume. The categories with the greatest increases in September were professional, administrative, & complementary services (+1.4%) and information & communications services (+1.0%). In terms of regional variation, the south-eastern states of São Paulo and Rio de Janeiro posted the highest rise in services, with monthly growth of 1.0% and 2.6% respectively. Among the factors that contributed to the monthly growth, the Ibge highlighted the performance of innovative companies based in São Paulo in areas such as information technology, online advertising, and e-commerce. In Rio de Janeiro, the Ibge suggested that services received a boost from music festivals, such as Rock in Rio, which ran from 13-22 September.