Brazilian gauge of economic activity keeps rising in July

The Brazilian Economic Activity Index compiled by the Brazilian central bank was 0.57 percent higher in July than the month before and 2.56 percent higher than a year earlier, Xinhua reports.

The Chinese government-run news agency says the index has now been higher than the month before for two months in a row, rebounding from a decline in May caused by a strike by truck drivers all over the country.

The report says that in the 12 months that ended in July the index was 1.46 percent higher than in the preceding 12 months.

The Brazilian economy grew by 1 percent last year, having shrunk in each of the preceding two years, and the financial market expects it to grow by 1.36 percent this year and 2.5 percent next year, Xinhua says.