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.