Data release: 08/11/2022
In June 2022, the services sector registered an advance of 0.7% compared to the previous month, above market expectations that were around 0.4%.
- Positive highlights: transport (0.6%); professional, administrative and complementary services (0.7%); other services (0.8%) and services provided to families (0.6%).
- Negative highlights: information and communication (-0.2%).
View: during the sixth month of the year, there has been a mismatch between the retail and services sector. The latter seems to be correlated with the strong labor market in the country, while the former is apparently starting to feel the effects of a restrictive monetary policy. The sentiment surveys point this mismatch too, showing expectations are still high for services.
