Confidence in the country’s service sector rose in March. After four consecutive declines in recent months, the category levels rose 3.0 points compared to February. With the favorable performance, the Services Confidence Index (ICS) reached 92.2 points.
The data, evaluated by the Brazilian Institute of Economics of the Getúlio Vargas Foundation (FGV IBRE), were published this Wednesday (30).
The institute’s survey shows that the positive result for the month was driven both by the improvement in business expectations and by the perception of an increase in the volume of services provided at this time.
The Expectations Index (IE-S), for example, recorded the first high of 2022. In this period, the indicator rose 1.3 points and reached 93.7 points.
The study coordinator, Rodolpho Tobler, explains that the advance of vaccination against Covid-19 in Brazil and the end of restriction measures may be some of the reasons for this scenario.
“The advancement of trust seems to be related to the improvement of the pandemic, especially in the segments that depend more on the movement of people”, he analyzes.
Despite the improvement in the conjuncture, the FGV economist reinforces that it is still too early to ensure a recovery in the sector.
“Caution is needed about the coming months, the negative macroeconomic scenario and low consumer confidence do not allow us to confirm that this increase is the return to the recovery path observed last year. We will have to wait for new favorable results”, he concludes.
* Under supervision of Fabiana Lima
Source: CNN Brasil
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