Service sector revenue in the city of São Paulo reached R$351.8 billion in the first half of this year, an increase of 8.8% compared to the same period last year, reported the Federation of Commerce of Goods, Services and Tourism of the State of São Paulo (FecomercioSP).
The drop in inflation, the improvement in the job market and the readjustment of the minimum wage, which came into force at the beginning of the year, are highlighted by the entity as vectors that contributed to growth.
According to FecomercioSP, the biggest increases in revenue were recorded in the marketing and communication segments (77.8%), civil construction (30.6%) and tourism, accommodation, events and the like (83.8%).
Of the 13 activities that make up the sector, only three recorded a decrease in revenue: agency, brokerage and intermediation (-22%); representation (-9.6%); and health (-7.8%), states the entity.
FecomercioSP’s projection is that, at the end of the year, the São Paulo services sector will register a 7.5% increase in revenue compared to 2022, reaching R$738.0 billion in revenue.
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