Brazil Economic Activity January 2016


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%.

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 2.3%.

Author: Angela Bouzanis, Lead Economist

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Brazil Economic Activity Chart

Brazil Economic Activity January 2017

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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