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LatinNews Daily - 16 September 2022
In brief: Brazil’s economic activity rises
* Brazil’s central bank (BCB) has released the latest figures on economic activity, which increased by 1.17% in July compared to June. This is the second consecutive month of growth, following a 0.69% increase in economic activity in June. In year-on-year terms, economic activity was up 3.87% in July. The BCB’s economic activity index (IBC-Br) was created to anticipate the official GDP figures, which are calculated by Brazil’s national statistics institute (Ibge). Also yesterday, Brazil’s economy ministry updated its 2022 growth forecast, citing stronger than expected growth in Q2 2022. The ministry now expects Brazil’s GDP to expand by 2.7% this year, up from previous projections of 2%.
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