The Brazilian Central Bank’s Economic Activity Index (IBC-Br) showed a decline in 2015 of 4.08%, the bank said Thursday. The index is widely seen as a precursor for full gross domestic product data. The Brazilian Census Bureau (IBGE) will release 2015 GDP data on March 3. Economic activity declined in the face of rising government and private indebtedness amid high interest rates, according to economists. Most economists are predicting another negative year for growth in 2016 as the government struggles with intractable deficits and companies scale back investments.
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