Silvio Cascione – Reuters, 09/14/2012
Brazil’s economy kicked off the third quarter at a slightly stronger pace than expected, suggesting an incipient recovery is taking hold after a year-long campaign of government measures to stimulate growth, central bank data showed on Friday.
The central bank’s IBC-Br economic activity index rose 0.42 percent in July from June in seasonally adjusted terms. The median estimate in a Reuters survey of 12 analysts was for a rise of 0.30 percent.
June’s rise, however, was revised down to 0.61 percent from 0.75 previously.
The index, a gauge of activity in the farming, manufacturing and services sectors, rose 2.34 percent from the same period a year before, the bank added, accelerating sharply from a 0.99 percent gain in the previous month.