The Brazilian Central Bank’s Economic Activity Index (IBC-Br) advanced for the third straight month in August, the bank said Wednesday. Economic activity expanded by 0.47% against July and by 2.5% against August of 2017. The rise in activity was led by wholesalers and service providers. Retail sales rose modestly while industrial output lagged. Wednesday’s data reinforced economist ideas that Brazil is headed for a modest economic recovery this year, on the order of about 1.5%, but accelerating in 2019, with growth of more than 2.0% likely.
Link to Central Bank release