RIO DE JANEIRO, BRAZIL - Services activity in Brazil surged in February, expanding at its third fastest rate since comparable records began a decade ago to lift activity back above pre-pandemic levels from February last year, official figures showed on Thursday.
The services sector grew by a seasonally adjusted 3.7% on the month, government statistics agency IBGE said, more than double the median estimate of 1.5% expansion in a Reuters poll of economists.
It was the ninth month of expansion, IBGE said, and the third largest since the series began in 2011. Services sector output in February was . . .