Brazil Economic Activity


Economic activity hits six-month low in December

In December, economic activity fell 0.6% 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 marked a deterioration over the zero growth tallied in November, but beat market expectations of a 0.9% decrease. In addition, December’s result represented a 6-month low.

On an annual basis, economic activity rose 0.7%, which contrasted November’s 1.3% contraction. Meanwhile, annual average growth fell from November’s negative 0.1% to minus 0.2% in December, which cemented the downward trend in economic activity that prevailed for 2014.

LatinFocus Consensus Forecast panelists expect the economy to expand 0.2% in 2015, which is down 0.1 percentage points from last month’s estimate. For 2016, the panel sees GDP growth at 0.7%.

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Brazil Economic Activity Chart

Brazil Economic Activity December 2014

Note: Month-on-month changes of seasonally adjusted IBC-Br (Indice de Atividade Economica do Banco Central) and annual average growth rate in %.
Source: Central Bank of Brazil.

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