Brazil’s economic recovery continues on course, albeit at a slow pace, according to the Central Bank’s Economic Activity Index (IBC-Br) for June, released Thursday. The index showed economic activity rising by 0.5% in June over the previous month. Economic activity was down 0.56% against June of 2016, reflecting continued effects of the 2015-2016 recession. The June figure was slightly above analyst projections, indicating the expected 2017 recovery remains on course. Retail sales and services put in an especially strong performance in June, according to the Central Bank. Tame inflation and declining interest rates should help underpin the recovery, going forward, according to economists.
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