The service sector closed the year 2024 with accumulated growth of 3.1%, completing the fourth consecutive year of positive rates, an unprecedented feat in the historical series, which began in 2012. Between 2021 and 2024, the accumulated high reached 27, 4%. Last year’s result also exceeded 2023, which was 2.9%. The data were released on Wednesday (12) by the Monthly Research of Services, from the Brazilian Institute of Geography and Statistics (IBGE).
In the annual result of 2024, four of the five sectors performed positively. The biggest highlights were information and communication services and professional, administrative and complementary services: both grew 6.2%. The services provided to families had an increase of 4.4% and the other services advanced 1.1%.
The only sector with a negative result was that of transport, with a drop of -0.7%. According to the research manager, Rodrigo Lobo, this is mainly due to the decrease in revenue obtained by road cargo transportation, impacted by the smallest crop harvested last year.
December
In the last month of the year, the volume of services in Brazil retreated 0.5%, the second consecutive negative result, accumulating loss of 1.9%. Rodrigo Lobo recalls that these two results come after the record recorded in October, which raises the basis of comparison. Regarding December 2023, the result was positive at 2.4%.
From November to December, three of the five activities were retraction. The largest of these was observed in the category other services, which fell -4.2%, because mainly the poor performance of auxiliary financial services. Also retreating the professional, administrative and complementary services (-0.7%) and the information and communication activities (-0.7%).
In contrast, services provided to families grew 0.8%, accumulating growth of 7.8% between May and December 2024. Transport had a discreet recovery of 0.1%, after a significant drop of 3.5% in November .
Even with the monthly fall, the service sector reached the last month of 2024 at a level 15.6% above the February 2020 pre-pound level. But it was still 1.9% below the highest point in the series historical, registered in October 2024.
