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Brazil’s GDP forecast drops 0.05% in October, says Central Bank

The Gross Domestic Product (GDP) forecast, measured by the Central Bank's IBC-Br (Economic Activity Index), dropped 0.05% in October compared to September.

The comparison is seasonally adjusted - a kind of compensation to compare different periods.

The BC (Central Bank) released the result on Wednesday (Dec. 14).

The IBC-Br was below the median of the financial market's estimates, which projected a growth of 0.3% in October compared to September.

According to the Central Bank, the Brazilian economy grew 3.41% year-to-date from January to October.

In 12 months, the GDP has advanced 3 . . .

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