*Brazil’s central bank (BCB) has released its latest economy activity index (IBC-Br), used as a proxy to anticipate GDP figures, which showed that activity in August increased by 0.2% in monthly terms and by 3.1% year-on-year. Accumulated activity in the 12 months until August 2024 was up 2.5% from the previous 12-month period, while accumulated activity for January-August this year was up 2.9% from the same period last year. According to the latest forecasts by private sector economists and analysts surveyed by the BCB, whose projections are published in the BCB’s weekly Focus bulletin, Brazil’s annual GDP growth for 2024 is expected to reach 3.01%.
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LatinNews Daily - 15 October 2024
In brief: Brazil’s economic activity rises in August
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