Brazil’s economy swings back to modest growth in May

Economic activity in Brazil began to grow again in monthly terms in May, after two sharp consecutive declines in March and April, as businesses slowly began to open up in the wake of coronavirus-related quarantining measures.

The central bank’s IBC-Br index, a leading indicator of gross domestic product, rose 1.31% in May from April. That was a marked improvement from the 9.7% slump in April.

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