FOREX TradingCharts.com

Financial News: Brazil Services Growth At 5-Month Low

Brazil Services Growth At 5-Month Low

08/03/2022 - 10:04:00 (RTTNews)

(RTTNews) - Brazil's service sector activity expanded at the weakest pace in five months in July, though still remained strong overall, survey data from S&P Global showed on Wednesday.

The seasonally adjusted services business activity index dropped to 55.8 in July from 60.8 in June. However, a reading above 50 indicates expansion in the sector.

Even though business activity and sales rose at a slower pace, expansion rates were much higher than their long-run averages, the survey said.

New order growth slowed to a 5-month low in July amid elevated price pressures.

Inflationary pressures in July were largely driven by higher prices of food, fuel and utility prices and the US dollar strength. However, the rate of cost inflation softened to a five-month low amid a reduction in fuel taxes.

Concurrently, charge inflation moderated to the slowest since April.

Looking ahead, services companies remained strongly upbeat about the outlook, with over two-thirds of panelists predicting higher output levels in the next year.

"Service providers again signaled a robust rate of hiring activity, but a sharp and faster drop in outstanding business indicates that job creation will likely soften further unless new business regains growth momentum," Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said.

The composite PMI, which combines manufacturing and services, fell to 55.3 in July from 59.4 in June.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Norway Central Bank Hikes Policy Rate By 50 Bps, Hints At September Raise (01 hr(s), 39 min(s), 29 sec(s) ago)
(RTTNews) - The Norwegian central bank raised its benchmark interest rate further by 50 basis poin ...Full Story»

Philippine Central Bank Raises Key Interest Rate Further (01 hr(s), 45 min(s), 29 sec(s) ago)
(RTTNews) - The Philippines' central bank on Thursday raised its key interest rate again by 50 ...Full Story»

U.S. Leading Economic Index Declines For Fifth Straight Month In July (02 hr(s), 03 min(s), 29 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by i ...Full Story»

U.S. Existing Home Sales Extend Nosedive To New Two-Year Low In July (02 hr(s), 17 min(s), 29 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. showed another significant decrease in the month of Ju ...Full Story»

Mainland Norway Q2 GDP Expands As Expected (02 hr(s), 16 min(s), 29 sec(s) ago)
(RTTNews) - Mainland Norway's economy expanded in the second quarter after contracting in the ...Full Story»

Philly Fed Index Unexpectedly Indicates Return To Growth In August (02 hr(s), 33 min(s), 29 sec(s) ago)
(RTTNews) - After reporting contractions in Philadelphia-area manufacturing activity in the two pr ...Full Story»

U.S. Jobless Claims Unexpectedly Edge Down To 250,000 (03 hr(s), 0 min(s),29 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday unexpectedly showed a modest pul ...Full Story»

Philly Fed Index Unexpectedly Returns To Positive Territory In August (04 hr(s), 05 min(s), 29 sec(s) ago)
(RTTNews) - After reporting contractions in Philadelphia-area manufacturing activity in the two pr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Norway Central Bank Hikes Policy Rate By 50 Bps, Hints At September Raise

08/18/2022 - 11:09 AM (RTTNews)
(RTTNews) - The Norwegian central bank raised its benchmark interest rate further by 50 basis poin ...Full Story>>

Philippine Central Bank Raises Key Interest Rate Further

08/18/2022 - 11:03 AM (RTTNews)
(RTTNews) - The Philippines' central bank on Thursday raised its key interest rate again by 50 ...Full Story>>

U.S. Leading Economic Index Declines For Fifth Straight Month In July

08/18/2022 - 10:45 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by i ...Full Story>>

Mainland Norway Q2 GDP Expands As Expected

08/18/2022 - 10:32 AM (RTTNews)
(RTTNews) - Mainland Norway's economy expanded in the second quarter after contracting in the ...Full Story>>

U.S. Existing Home Sales Extend Nosedive To New Two-Year Low In July

08/18/2022 - 10:31 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. showed another significant decrease in the month of Ju ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.