Brazil Economic Activity May 2016

Brazil

Brazil: Economic activity contracts in May

July 14, 2016

In May, economic activity declined 0.5% over 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 contrasted April’s marginal 0.1% expansion and was worse than market analysts’ expectations of zero growth.

On an annual basis, economic activity plummeted 4.9%, which was a minor improvement compared to April’s 5.0% fall. Meanwhile, annual average growth in May was in line with April’s minus 5.4%, which is a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 3.3% in 2016, which is up 0.1 percentage points from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.9%.


Author:, Economist

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Brazil Economic Activity May 2016 0

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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