In August, economic activity contracted a seasonally adjusted 0.5% over the previous month, according to the Central Bank's monthly indicator for economic activity (IBC-Br, indice de Atividade Economica do Banco Central). The reading contrasted July's 0.3% expansion and exceeded market expectations of a 0.4% contraction. In fact, the reading represented the sharpest decline in economic activity since December 2008. On an annual basis, economic activity expanded 2.9% in August, which was up from the 1.7% increase recorded in July. However, the trend continued to point downwards, with annual average growth falling from 4.4% in July to 4.0% in August. The IBC-Br is highly correlated to the GDP series and thus represents a good proxy for economic growth.
Brazil Economic Activity
Economic activity declines in August
October 13, 2011
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Brazil Economic News
October 19, 2016
At its 19 October meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to cut the benchmark SELIC interest rate for the first time in four years, lowering it from 14.25% to 14.00%.
October 18, 2016
Retail sales (excluding cars and construction) fell 0.6% in August from the previous month in seasonally-adjusted terms.
October 7, 2016
Consumer prices in September increased 0.08% over the previous month, the lowest rise since July 2014.
October 4, 2016
In August, industrial production plunged 3.8% over the previous month in seasonally-adjusted terms, which significantly contrasted the 0.1% expansion recorded in July and marked the worst result since January 2012.
October 3, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in September, increasing from August’s 45.7 to 46.0.