Brazil Economic Activity December 2016

Brazil

Brazil: Economic activity contracts in December

February 17, 2017

In December, economic activity contracted 0.3% 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 contrasted November’s 0.1% rise and marked the worst reading in four months. The result came in slightly below market analysts’ expectations of a 0.2% contraction.

On an annual basis, economic activity fell 1.8% in December, which was a minor improvement compared to November’s 2.2% decrease and the highest reading in 18 months. Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 4.3%, which was up from November’s minus 4.7% and the highest reading in a year.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 0.6% in 2017, which is unchanged from last month’s estimate. For 2018, the panel of analysts sees GDP rising 2.2%.


Author:, Economist

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Brazil Economic Activity December 2016

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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