Economic Activity Disappoints In May

News: Brazil's seasonally adjusted index economic activity, a proxy for GDP, rebounded less than expected in May. The index increased 0.03% m-o-m in May, compared with a 0.88% decline in April, according to the Central Bank of Brazil. Bloomberg consensus was for the index to rise 0.2% in May. The non-seasonally adjusted economic index dropped 4.75% y-o-y, surpassing the median estimate for a 4% fall.

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