Industry

Service sector shrank 1% in February

Services activity in Brazil shrank 1% in February, official figures showed on Wednesday, the biggest monthly fall in over 18 months and another sign Latin America’s largest economy was already in go-slow mode before the coronavirus crisis erupted. Services accounts for around two-thirds of Brazilian economic activity, and much of it has now been virtually shut down due to the Coronavirus outbreak.

Source: MercoPress

Categories: Industry