Brazil Economic Activity


Economic activity drops to five-year low

In December, economic activity contracted 1.4% over the previous month in seasonally-adjusted terms according to the Central Bank's monthly indicator for economic activity (IBC-Br, Indice de Atividade Economica do Banco Central). The figure followed the 0.6% drop observed in November and marked the sharpest drop in activity since December 2008. The result exceeded market expectations of a 1.0% decrease.

On an annual basis, economic activity increased 0.7% in December, which was below the 1.3% rise tallied in November. Meanwhile, annual average growth ticked up from November's 2.4% to 2.5%.

The Central Bank expects GDP to grow 2.3% in 2014 according to its Inflation Report from December. LatinFocus Consensus Forecast panelists expect the economy to expand 2.1% in 2014, which is down 0.2 percentage points from last month's estimate. For 2015, the panel sees GDP growth at 2.3%.

Author:, Economist

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Brazil Economic Activity Chart

Brazil Economic Activity December 2013

Note: Month-on-month (s.a.) and annual average growth of the IBC-Br (Indice de Atividade Economica do Banco Central).
Source: Central Bank of Brazil.

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