India, Sept. 3 -- Brazil's service sector logged a marginal deterioration in August as output and new orders fell at slower rates, survey results published by S&P Global showed on Wednesday.
The seasonally adjusted S&P Global Brazil Services Business Activity Index rose to 49.3 in August from 46.3 the previous month. However, any score below 50 indicates contraction.
The survey revealed that a softer deterioration in demand curbed contractions in new business intakes and output. The overall decline was due to demand retrenchment and fierce competition.
Service providers continued to reduce workforce numbers in August amid the combined effect of cost-cutting measures and reduced workloads. Moreover, the rate of job shedding was the quicke...