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Brazil's Q1 economic activity down 0.13% YOY

Brazil's economic activity in the first quarter declined 0.13% compared to the fourth quarter of 2017, according to data from Banco Central do Brasil.

In March alone, the economic activity index declined 0.74% from February.

As a result, economists surveyed by the central bank have revised their GDP growth forecast for the year to 2.51%, compared to 2.76% a month ago, Folha De S. Paulo reported.