Brazil Economic Activity December 2019

Brazil

Brazil: Economic activity declines at quickest pace in 10 months in December

February 14, 2020

Economic activity fell 0.3% in seasonally-adjusted month-on-month terms in December, following November’s revised 0.1% decrease (previously reported: +0.2% month-on-month) and missing expectations of a softer 0.2% drop.

On an annual basis, economic activity rose 1.3% in December up from a downwardly revised 0.8% in November (previously reported: +1.1% year-on-year), while annual average growth in economic activity was stable at 0.9%.

Looking ahead, economic output is expected to gain some impetus on the back of a looser monetary stance, which should in part fuel fixed investment. Moreover, a tighter labor market and government measures aimed at increasing households’ disposable income should support consumer spending.

In January, LatinFocus Consensus Forecast panelists projected the economy to grow 2.2% in 2020, which was up 0.1 percentage points from the prior month’s estimate. For 2021, panelists saw GDP rising 2.5%. New forecasts will be released on 18 February.


Author:, Economist

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Brazil Economic Activity December 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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