Brazilian economic indicator an augury of GDP growth in 2018

An index compiled by the central bank of Brazil indicates economic activity there was 1.38 percent greater in the first 11 months of last year than in the corresponding period the year before, Xinhua reports.

The Chinese government-run news agency says the Brazilian Index of Economic Activity is regarded as foreshadowing the gross domestic product figure.

The index gauges activity in manufacturing, commerce, services and agriculture.

The index was 0.29 percent higher last month than the month before, Xinhua says.

The central bank said this week that the average annual rate of growth in Brazilian GDP this year forecast by analysts it polls was 2.57 percent the last time it asked them, having been 2.53 percent a week earlier.