The Brazilian Central Bank’s Economic Activity Index (IBC-Br) posted a month-on-month decline of 0.38% in August, the Central Bank said Wednesday. Government economists called the decline temporary, saying it was due to a pause in manufacturing output. Economic activity rose 1.64% in August against the same month in 2016. Economists said they believe economic activity will resume its upward curve in September on lower inflation, declining interest rates and job expansion.
Link to Central Bank release.
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