Brazil’s Economic Activity Falls Again, Pointing to a Slowdown

Brazil’s economic activity dropped for third consecutive month in July, pointing to the toll that hefty borrowing costs are taking on growth.

The central bank’s economic activity index, a proxy for gross domestic product, fell 0.53% from June, more than the median estimate of a 0.3 drop from analysts in a Bloomberg survey. From a year ago, the index advanced 1.15%.