Economics
Brazil’s Economic Activity Slowed Less Than Expected in July
- In July central bank activity index rose 0.60% MoM, 5.53% YoY
- With CPI above-target, analysts have trimmed GDP forecasts
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Brazil’s recovery slowed less than expected in July according to the central bank’s main gauge of activity, as Latin America’s economy grapples with above-target inflation and political tensions.
The central bank’s economic activity index, a proxy for gross domestic product, rose 0.60% on the month in July, more than the 0.35% median estimate in a Bloomberg survey, the bank reported on Wednesday. June’s reading was revised to 0.92% from 1.14%. On the year, activity rose 5.53%.