THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
DOWNLOAD
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
DOWNLOAD
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: BSP takes on less dovish tone
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
August 29, 2025 DOWNLOAD
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: BSP takes on less dovish tone
August 28, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

UPDATE 1-Brazil’s services activity beats forecasts with 1.7% rise in March

May 12, 2022By Reuters
Related Articles
BRIEF-Pacificonline Systems Inc Says Maria Neriza C. Banaria To Replace ABO-Hamda As CFO December 9, 2021 BUZZ-COMMENT-US recap: EUR/USD sheds post-CPI gains as risk appetite suffers May 11, 2022 Japan's Nikkei rallies on Wall Street's lead as BOJ decision looms September 20, 2024

Adds details, context

By Marcela Ayres

BRASILIA, May 12 (Reuters) – Services activity in Brazil rose more than expected in March and at a record pace for the month, official figures showed on Thursday, marking a strong recovery from the severe downturn caused by the COVID pandemic.

Services activity increased 1.7% in March from February, more than double the 0.7% growth expected by economists according to a Reuters poll, reaching its highest level since May 2015, the government statistics agency IBGE reported.

That put the sector 7.2% above the level of February 2020, before the onset of the pandemic. All five activities surveyed in the sector expanded, with the biggest increases seen in transport at +2.7% and information and communication services at +1.7%, IBGE said.

Services activity gained 11.4% from March 2021, also above the 8.5% increase forecast in the Reuters poll.

In the first quarter, it grew 9.4% over the same period last year, rising 1.8% over the previous quarter.

Research manager Rodrigo Lobo said the weak comparison base pushed the sector higher, noting that Brazil in March 2021 faced a second wave of COVID-19 that imposed strict restrictions on mobility.

“That’s why in March, in the year-over-year comparison, there are very high rates for activities like air transport, for example,” he said.

Brazil’s Economy Ministry has argued that the performance of the services sector will support the economy this year, along with a stronger labor market and increased private investment, helping to mitigate the effects of high interest rates to battle double-digit inflation.

(Reporting by Marcela Ayres, with additional reporting by Rodrigo Viga Gaier
Editing by Mark Potter and Paul Simao)

((marcela.ayres@thomsonreuters.com; +55 11 5047-2444;))

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Access this content:

If you are an existing investor, log in first to your Metrobank Wealth Manager account. ​

If you wish to start your wealth journey with us, click the “How To Sign Up” button. ​

Login HOW TO SIGN UP