LatinNews Daily - 20 September 2023

In brief: Another monthly rise in Brazil’s economic activity

* Brazil’s central bank (BCB) has released the economic activity index (IBC-Br) for July, used as a proxy to anticipate GDP figures. The index showed a 0.44% increase in economic activity from June to July, marking the second consecutive monthly rise, following the rise of 0.63% registered in June. The IBC-Br for July 2023 saw a 0.66% increase compared to July last year. The accumulated economic activity for the first seven months of 2023 saw a 3.21% increase compared to January-July 2022, and the accumulated activity over the 12 months until July rose by 3.12% compared to the previous 12-month period. The figure surpassed the forecast of economists consulted by the news agency Reuters, who predicted a rise in activity of 0.30% for July.

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