Brazil Economic Activity July 2019

Brazil

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%.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 0.9% in 2019, which is down 0.1 percentage points from last month’s estimate. For 2020, the panel of analysts sees GDP rising 2.0%.


Author: Angela Bouzanis, Lead Economist

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Brazil Economic Activity July 2019

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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