Economic activity still recovering slowly

BRAZIL ECONOMICS - Report 22 Oct 2018 by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Caio Carbone

​Despite the positive surprise of the IBC-Br, indicating growth in the third quarter of 1.5%, the recovery trend is still sluggish. The result of the IBC-Br was influenced mainly by the service sector, where real revenue expanded by 1.2% in August, and by real retail sales, whose increase may have been temporarily boosted by withdrawals from PIS/PASEP accounts. All the confidence indicators and forces explaining the behavior of household consumption continue pointing to recovery, but at a very slow pace.

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