Brazil: Economic activity eases in August
In August, economic activity increased 0.5% from 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 result was below July’s 0.7% rise but beat market analysts’ expectations of a softer 0.3% increase.
On an annual basis, economic activity grew 2.5% in August unchanged from July’s reading. Annual average growth in economic activity, however, inched up from 1.4% in July to 1.5% in August.