Brazil: Economic activity growth dips in July
Economic activity increased 0.6% in month-on-month seasonally-adjusted terms in July, which followed June’s 0.9% increase. The print beat market analysts’ estimates, who had expected a 0.4% rise.
On an annual basis, economic activity rose at a more moderate pace of 5.5% in July (June: +9.0% yoy), which marked a four-month low. Meanwhile, annual average economic activity growth rose to 3.3% in July (June: +2.4%), signaling an improving trend in the sector.