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Brazil’s Recovery Gained Strength at End of the Second Quarter

  • Central bank’s activity index rose 1.14% on month in June
  • Most analysts expect stronger growth by the end of the year

Brazil’s recovery gained traction in June according to the central bank’s main gauge of activity, as Latin America’s biggest economy reopens as the vaccination campaign advances.

The bank’s economic activity index, which is a proxy for gross domestic product, rose 1.14% on the month in June, more than the 0.55% median estimate in a Bloomberg survey, the bank reported on Friday. However, May’s reading was revised down to -0.55% from -0.43% previously.