(Bloomberg) — Brazil’s latest activity indicators are casting fresh doubt that Latin America’s largest economy will finally take off in 2020 after years of disappointing growth.
The economy expanded by just 0.89% in 2019 following a contraction of 0.27% in December, according to the central bank’s activity index, which is a proxy for gross domestic product. While the weak full-year figure reported Friday comes as no surprise, signs that activity didn’t keep pace with already muted expectations at the end of 2019 may impact estimates for this year which some analysts have already started to trim.
Since assuming power over a year ago, President Jair Bolsonaro’s administration has pulled out all the stops in efforts to jump-start growth. Policy makers have cut