Brazil: Economic activity contracts in July
October 2, 2019
Economic activity fell 0.2% in seasonally-adjusted month-on-month terms, according to the Central Bank’s monthly indicator for economic activity. The result contrasted June’s 0.3% increase and marked a three-month low. Moreover, it suggests that the economy struggled in the month, contrasting other broadly positive monthly data for July.
On an annual basis, economic activity rose 1.3% in July, contrasting June’s revised 1.5% decrease (previously reported: -1.8% year-on-year). Meanwhile, annual average growth in economic activity was unchanged at June’s 1.1%.