The Brazilian Central Bank’s Economic Activity Index still showed a slight decline in July, dashing hopes among financial market analysts for the first sign of a recovery following months of recession. The index, or IBC-Br, posted a decline of 0.09 percent against June and 5.2 percent against July of 2015. Analysts had predicted an upswing of about 0.2 percent. Problems in the Brazilian economy include low levels of business and consumer confidence, heavy consumer indebtedness and high interest rates.
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