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Brazil economy surges most on record amid billions in Covid cash

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Brazil’s economy recorded its fastest growth on record in the third quarter as a powerful combination of monetary stimulus and government spending resuscitated consumer demand during the coronavirus pandemic.Gross domestic product jumped 7.7% from the previous three-month period, less than the median estimate for an 8.7% rise from analysts in a Bloomberg survey.

It was still the largest quarterly increase in a data series going back to 1996. From a year ago, the economy contracted by 3.9%, the national statistics agency reported on Thursday.Latin America’s largest economy rebounded from a historic plunge on the back of stimulus including record-low interest rates, fresh cash for loans and monthly payouts for informal workers.

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