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LatinNews Daily - 16 October 2020

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In brief: Brazil’s economic activity continues to pick up in August

* Brazil’s central bank (BCB) has released the August figures for its index of economic activity (IBC-Br), used as a proxy of GDP growth, which show that economic activity grew 1.06% in August compared with July. This is the fourth consecutive positive monthly result after sharp contractions in March and April as a result of the coronavirus (Covid-19) pandemic. Economic activity has accumulated 5.94% growth in the June-August rolling quarter, but year-on-year, the IBC-Br contracted 3.92% in August. In the nine months to August, the IBC-Br has suffered a -5.94% variation.