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Brazil's antecedent compound economic index (IACE) increased for the eighth consecutive month.
According to data from the Brazilian institute of economics (IBRE/FGV), economic activity was up 1.3% in September compared to August, reaching 99.6 points.
August saw an increase of 0.2% compared to the previous month and July's increase was 2.2%.
Of the eight components considered when calculating the IACE, seven contributed positively to the index in September. The only component to decline was the exchange of terms index.
The coincident compound economic index (ICCE), which measures Brazil's current economic conditions, dropped 0.5% in September compared to the previous month, hitting 96.8 points. August and July both saw declines of 0.4%.
"As in previous months, the poor performance of the ICCE has shown that the depth of the current recession demands a careful analysis of the expectations of variables that make up the IACE," said Paulo Picchetti, a researcher at IBRE/FGV. "While the IACE is pointing to a resumption of economic activity, the development of the ICCE suggests that we still have not experienced a clear reversal of the cycle."