The Brazilian service sector growth accelerated somewhat in June as World Cup-related viewing events, hospitality spending, and media activity helped support demand, survey results published by S&P Global showed on Friday.
The seasonally adjusted S&P Global Brazil Services Business Activity Index rose to 51.3 in June from 50.4 in May. A score above 50 indicates expansion.
“But with Brazilian services firms mostly linking June’s upturn to a World Cup boost, the recovery looks likely to be short-lived,” Pollyanna De Lima, economics associate director at S&P Global Market Intelligence, said.
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