India, June 4 -- Brazil's service sector continued to deteriorate in May amid a further fall in new orders and inflationary pressures, survey results published by S&P Global showed on Wednesday.
The seasonally adjusted S&P Global Brazil Services Business Activity Index rose to 49.6 in May from 48.9 in the previous month. However, any score below 50 indicates contraction.
Output fell at a moderate pace in May, though at a quicker pace than in April due to weaker demand and shortages of new business. New orders also fell for the second straight month.
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Meanwhile, employment increased marginally, and companies became more optimistic towards output prospects...