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LatinNews Daily - 15 July 2020
In brief: Brazil’s monthly economic activity picks up in May
* Brazil’s central bank (BCB) has released its indicator of economic activity (IBC-Br), a preview of GDP growth, for May, which shows that monthly activity began to pick up after two consecutive months of sharp contraction, a reflection of the global economic downturn caused by the coronavirus (Covid-19) pandemic. The IBC-Br saw a 1.31% variation in May compared with April. Year-on-year, the IBC-Br contracted by 14.24% in May, while economic activity in the 12 months to May 2020 fell by 2.08%.