Brazil: Decline in economic activity softens in May
Economic activity declined 0.1% month-on-month in seasonally-adjusted terms in May (April: -0.6% mom).
On an annual basis, economic activity increased 3.7% in May, notably above April’s 2.1% expansion and marking the best result since August 2021. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 2.7%, down from April’s 3.5%.