RIO DE JANEIRO, BRAZIL - A strong rebound in new business volumes led Brazil's services output to post its biggest gain since early 2013, with the sector maintaining its growth trajectory in July, according to the Purchasing Managers' Index (PMI).
According to data released Wednesday by IHS Markit, the services PMI rose to 54.4 in July from 53.9 in June, marking the second consecutive increase in output and the fastest in eight and a half years. A reading above 50 indicates expansion.
Survey respondents said the upswing was due to attracting new customers, stronger demand, and lifting some . . .