India, Feb. 5 -- Brazil's service sector deteriorated for the first time in sixteen months amid a renewed decline in new orders, survey results published by S&P Global showed on Wednesday.
The seasonally adjusted S&P Global Brazil Services Business Activity Index dropped to 47.6 in January from 51.6 in the previous month. Any score below 50 indicates contraction.
Further, this was the steepest decline in services activity since April 2021.
The falling trend in business activity in January was attributed to demand weakness and a subsequent decline in new business inflows, which was the most pronounced in nearly four years. Meanwhile, employment grew for the third successive month, though marginally.
On the price front, input price inflat...