In January, economic activity expanded 1.3% 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 contrasted the 1.4% drop observed in December and marked the highest growth rate since June 2008. The result exceeded market expectations of a 0.9% increase. On an annual basis, economic activity increased 0.9% in January, which was slightly above the 0.7% rise tallied in December. Meanwhile, annual average growth inched down from 2.5% in December to 2.3% in January. The Central Bank's Inflation Report from December indicates that it expects GDP to grow 2.3% in 2014. LatinFocus Consensus Forecast panelists expect the economy to expand 1.9% in 2014, which is down 0.2 percentage points from last month's estimate. For 2015, the panel sees GDP growth at 2.1%.
Brazil Economic Activity
Economic activity rebounds to multi-year high
March 14, 2014
Author: Carl Kelly, Economist
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Brazil Economic Activity Chart
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.
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.