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Brazil & Southern Cone - October 2013 (ISSN 1741-4431)

ECONOMY: Still slow

The central bank’s IBC-Br economic activity index, a proxy for real GDP, rose a paltry 0.08% month-on-month and 1.32% year-on-year in August, signalling continued weakness in Brazil’s economy for the third year in a row. Importantly ahead of the 2014 election year, employment is holding up.

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