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Brazil economic activity rebounds in June

Staff Writer |
In June, economic activity rose 0.5% from the previous month in seasonally-adjusted terms, according to the Central Bank’s monthly indicator for economic activity (IBC-Br, Indice de Atividade Economica do Banco Central).

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The result contrasted May’s revised 0.4% decrease (previously reported: -0.5% month-on-month) and surprised market analysts, who had expected a softer 0.3% increase.

On an annual basis, economic activity fell 0.6% in June, which contrasted May’s 1.6% increase

Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 2.0%, which was up from May’s minus 2.2%.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 0.4% in 2017, which is unchanged from last month’s estimate. For 2018, the panel of analysts sees GDP rising 2.0%.

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