The Brazilian Central Bank’s IBC-Br index — seen as a preview of the country’s GDP — rose by 1.06 percent in August, below market forecasts of a 1.7-percent spike and July’s 2.15-percent growth. Still, it is the fourth consecutive month of recovery.
Since January, the IBC-Br has fallen 3.92 percent, while markets’ consensus expected a 4.10-percent plunge. On a year-to-date basis, the index is down 5.44 percent, worse than the 4.7-percent drop in economic activity expected by the Economy Ministry.
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