Brazil: Economic activity contracts in January
March 31, 2017
In January, 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 matched December’s reading and came in slightly below market analysts’ expectations of a 0.1% contraction.
On an annual basis, economic activity fell 0.8% in January, which was an improvement compared to December’s 2.3% decrease and the highest reading in nearly two years. Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 4.0%, which was up from December’s minus 4.6%.