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LatinNews Daily - 18 May 2020
In brief: Brazil’s economic activity contracts in Q1
* Brazil’s central bank (BCB) has released the latest figures for the economic activity index (IBC-Br), used as a preview of GDP growth, according to which economic activity in the country contracted by 1.95% in the first three months of 2020, compared with the previous quarter. In year-on-year terms, economic activity fell by 0.28% in Q1. The IBC-Br contracted by 5.9% in March compared with February, as a result of isolation measures being implemented to contain the spread of coronavirus (Covid-19), the index’s worst monthly performance since the series began in 2003.
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