Brazil: Economic activity rebounds in June
Economic activity grew 1.1% month-on-month in seasonally-adjusted terms in June, which contrasted May’s 0.6% decline. The print beat market analysts’ estimates, who had expected a 0.6% rise.
On an annual basis, economic activity rose at a softer pace of 9.1% in June (May: +14.2% yoy). Meanwhile, the trend improved, with the annual average variation of economic activity rising to 2.4% in June from 1.1% in May.