Brazilian economic activity advanced by 0.41% in July against the previous month and by 1.41% against July of 2016, according to the Central Bank’s Economic Activity Index (IBC-Br), released Thursday. It was the second monthly rise in a row. The index is seasonally adjusted. This month, economic activity accelerated faster than economists had expected. Activity advanced by nearly one full percentage points in the two months of June and July together. According to economists, Brazil’s economic recovery is beginning to consolidate after two straight years of recession. Tame inflation and lower interest rates are helping promote rising consumer spending and jobs growth. Exports are also flourishing.
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