武汉夜茶：Brazil’s economy continues to pick up, the service industry recovers slowly
Brazil’s economy continues to pick up, the service industry recovers slowly
Sao Paulo, October 15th Title: Brazil’s economy continues to pick up, the service industry recovers slowly
Reporter Gong Ruohan
The new crown epidemic has caused severe damage to the Brazilian economy.Since May,As the country resumes work and production,Brazil’s main economic indicators have rebounded,But overall it has not returned to the pre-epidemic level.The recovery of the service industry is even slower.
According to data released by the Brazilian Central Bank on the 15th,In August of this year,The Brazilian Central Bank’s Economic Activity Index, which is regarded as the indicator of economic development, rose by 1 month-on-month after seasonal adjustment.06%,This is the fourth consecutive month of month-on-month increase.But compared with the same period last year,The indicator still fell 3.92%.
At the beginning of the epidemic,Brazil’s social distancing measures have curbed economic activity,As a result, the Brazilian Central Bank’s economic activity index fell sharply in March and April.But since the country’s economic activities resumed in May,The indicator began to slowly rise.The economic activity index of Brazil’s central bank rose to 134 in August.05 o’clock,This is the highest value since February this year.
As Brazil’s economic recovery was better than expected,The International Monetary Fund (IMF) recently revised Brazil’s economic growth forecast for this year from the negative 9.1% is raised to minus 5.8%.IMF believes thatThe recovery of industrial activity in Brazil in July and August was a highlight.But due to the huge number of confirmed cases of new crown,The Brazilian service industry is still facing difficulties.
The latest data released by the Brazilian National Geographic and Statistics Institute shows thatIn August of this year,After seasonal adjustments, the output value of Brazil’s service industry increased by 2.9%,This is the third consecutive month of sequential growth.But compared with the same period last year,The output value of the service industry fell by 10%,The year-on-year decline for the sixth consecutive month.
Rodrigo Lobo, a researcher in charge of compiling the data at the Brazilian National Geographic and Statistics Agency, said:I am afraid it will be difficult for the service industry to return to pre-epidemic levels in 2020.
Lobo said,Service industries such as catering, accommodation, medical care, and beauty salons have been the most negatively affected by the epidemic.As economic activity resumes,Some companies resume work,But the business volume is still limited.In addition,People still have concerns about eating out and traveling.This is also not conducive to the recovery of the service industry.
Lobo also believes thatEmergency grants issued by the government have limited help to the service industry.”People often use subsidies for more essential consumption,Few people use subsidies for dining out or traveling.”