By Ovunc Kutlu
ISTANBUL (AA) - Brazil's service sector annually expanded 5.6% in April, according to the Brazilian Institute of Geography and Statistics (IBGE) data released on Wednesday.
The figure showed a strong rebound from a 2.2% annual contraction recorded in March.
The volume of services showed an expansion of 2.3% in the first four months of 2024, compared to the same period in 2023, IBGE said in a statement.
The service industry expanded 0.5% in April, compared to the previous month, following a gain of 0.7% in March.
On a monthly basis, transportation and communication showed gains of 1.7% and 0.4%, respectively, while other services jumped 5%, according to IBGE.