Brazilian economy shrinks 3.34% in May after truckers strike, BC shows

Brazilian economy shrinks 3.34% in May after truckers strike, BC shows

BRASILIA (Reuters) - The Brazilian economy shrank again in May, feeling the strong effects of the truckers strike that directly damaged activity and further shook confidence in ...

BRASILIA (Reuters) - The Brazilian economy shrank again in May, feeling the strong effects of the trucker strike that directly undermined activity and further shook business and consumer confidence.The Central Bank Economic Activity Index (IBC-Br), a kind of Gross Domestic Product (GDP) indicator, fell 3.34 percent in May over the previous month, according to the seasonally adjusted data released by the Central Bank on Monday.The result erased the 0.50 percent rise registered by the index in April, as revised by the BC after disclosing advance of 0.46 percent previously.Reuters survey expectations were down 3.45 percent, on the median projections of experts consulted.Compared to May 2017, the IBC-Br fell 2.90 percent, and in the accumulated 12-month high of 1.13 percent, according to the BC, in both cases in observed data.The impacts of the truckers strike have already been felt in various sectors of activity and have helped to further lower forecasts for GDP growth this y...


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