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LatinNews Daily - 03 September 2018

In brief: Brazil


* Brazil’s national statistics institute (Ibge) has released figures for second quarter growth, which show that the country’s GDP grew by just 0.2% between April and June, compared with January-March. Year-on-year, the economy grew by 1% in the second quarter. This aligns with economists’ expectations, who predicted slow growth following the eleven-day lorry drivers’ strike that paralysed the country in May. Only the services sector contributed to this slight growth (0.3%), while activity in the agricultural industry remained stable and the manufacturing sector contracted by 0.6%. Brazil’s national trade association (CNC) subsequently revised its GDP growth predictions for 2018 downwards, from 1.6% to 1.3%.   

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