Brazil Economic Activity March 2017

Brazil

Brazil: Economic activity contracts in March

June 2, 2017

In March, economic activity shrank 0.4% 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 followed February’s revised multi-year high of 1.4% growth (previously reported: +1.3% month-on-month). The reading beat market analysts’ expectations of a sharper 1.0% contraction.

On an annual basis, economic activity rose 1.0% in March, which contrasted February’s 0.7% decrease. Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 2.6%, which was up from February’s minus 3.3%.

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 2.4%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity March 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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