Brazil Economic Activity


Brazil: Economic activity contracts again in January

March 16, 2015

In January, economic activity fell 0.1% 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 followed December’s 0.6% decrease and beat market expectations of a 0.6% fall.

On an annual basis, economic activity fell 1.8%, which contrasted December’s 0.7% expansion. In addition, January’s result marked a seven-month low. Meanwhile, annual average growth fell from December’s minus 0.2% to minus 0.4% in January, continuing the downward trend in economic activity that prevailed for most of last year.

LatinFocus Consensus Forecast panelists expect the economy to contract 0.6% in 2015, which is down 0.5 percentage points from last month’s estimate. For 2016, the panel sees GDP growing 1.5%.

Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity Chart

Brazil Economic Activity January 2015

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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