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Brazil's service sector activity stabilized in January, survey data from IHS Markit showed Monday.

The services Purchasing Managers' Index came in at no-change mark of 50.0 in January versus 47.4 in December. The sector had contracted throughout the final quarter of 2017.

The improvement in January stemmed from a renewed increase in new work. Looking ahead, companies expect output to increase in 2018, with optimism at a four-month high.

At the same time, the composite output index rose to 50.7 in January from 48.8 in December. The private sector came in growth territory for the first time since September 2017.



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