Brazil's services sector expands in November with new business growth

Brazil's services sector grew in November, ending seven months of contraction, driven by increased new business and job creation. The Purchasing Managers' Index (PMI) rose to 50.1, indicating a slight expansion. Some businesses attributed growth to new contracts, while others noted weak demand. Confidence in the services sector reached a six-month high, with future output expectations improving, though concerns about the 2026 elections persist.