Brazilian Central Bank forecasts 0.6-percent GDP growth in July

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The Central Bank’s Economic Activity Index (IBC-Br) was up 0.6 percent in July, according to data released today. The index is considered to be a reliable predictor of official GDP figures. 

The index came in higher than expected by market agents surveyed by Reuters, who forecast an increase of 0.4 percent. This was the second month of growth for the IBC-Br, but the upward trend is losing steam

Since June 2020, IBC-Br has grown 9.7 percent (seasonally adjusted data).