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LatinNews Daily - 23 October 2023
In brief: Brazil’s economic activity drops in August
* Brazil’s central bank (BCB) has released the economic activity index (IBC-Br) for August, a proxy to anticipate GDP figures, which showed a monthly decrease of 0.77%. This latest contraction comes after two consecutive months of increases in activity, with June and July registering monthly rises of 0.63% and 0.44% respectively. However, the IBC-Br this August saw an increase of 1.28% compared to the same month last year. The accumulated economic activity in the 12 months until August 2023 saw a 2.82% increase compared to the previous 12-month period.
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