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Brazil’s IBC-Br economic activity index edged up 0.1% month-over-month in May 2026, slowing from a 0.5% gain in April but slightly exceeding expectations for no change. Industrial output grew 0.4%, matching April’s pace, while services expanded 0.1% following a 0.3% increase in the previous month. The taxes index also advanced 0.1%, after a 0.3% rise in April. In contrast, the agriculture and livestock sector contracted 1.0%, after remaining flat in April. Excluding agriculture and livestock, the IBC-Br increased 0.2% in May.
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