In June, economic activity contracted a seasonally adjusted 0.3% 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 May's 0.1% month-on-month rise and came in below market expectations of a 0.1% drop. In fact, June's decline in economic activity was the first drop since December 2008. A quarter-on-quarter analysis suggests that economic growth is slowing, as the three-month moving average of economic activity expanded 0.7% in seasonally adjusted terms in the three months to June, down from the 1.1% increase recorded in the three months to May. The IBC-Br is highly correlated to the GDP series and thus represents a good proxy for economic growth. On an annual basis, economic activity expanded 2.9% in June, down from the 4.2% increase tallied in May. Consequently, the trend continues to point downwards, with annual average growth falling from 5.3% in May to 4.9% in June.
Brazil Economic Activity
Economic activity declines for the first time since 2008
August 17, 2011
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Brazil Economic News
October 25, 2016
Brazil’s current account balance improved in September, continuing to build on the considerable gains made over the past year.
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.