The Brazilian Central Bank’s Economic Activity Index (IBC-Br) showed solid growth of 1.74% in the third quarter of this year against the previous quarter. The bank released the index Friday. The surge was due, to a certain extent, to a weak basis of comparison. Brazilian economic performance in the second quarter was weakened by an 11-day truck strike in May. Nevertheless, the index also showed a 1.72% advance against the third quarter of 2017, causing economists to say Brazil’s economic recovery is still on track. Growth in the third quarter of this year was led by services, with retail sales flat and industry lagging.
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