Brazil economic activity much brisker than expected in June
BRASILIA, Aug 15 (Reuters) – Economic activity in Brazil rose more than expected in June, a central bank index showed on Monday, contributing to a second-quarter rally helped by a service sector rebound following the impact of the COVID-19 pandemic.
The IBC-Br economic activity index, a leading indicator of gross domestic product, rose a seasonally adjusted 0.69% in June from May, much higher than the 0.25% growth expected by economists, according to a Reuters poll.
In the second quarter, activity increased 0.57% over the previous quarter.
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The IBC-Br index was up 3.09% on a non-seasonally adjusted basis from June 2021, while in the 12 months through June it grew 2.18%, the central bank said.
Official GDP figures will be released by the statistics agency IBGE on Sept. 1.
Economy Minister Paulo Guedes recently estimated that the economy will grow above 2% this year, driven by the…