Brazil: Economic activity declines for fourth consecutive month in September
November 18, 2015
In September, economic activity fell 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 figure was a less-pronounced decline than August’s 0.8% fall and beat market analysts’ expectations of a 0.6% drop. However, the print marked the fourth consecutive month of decline as the economy remains stuck in recession.
On an annual basis, economic activity plummeted 6.2%, which was a stark deterioration from August’s revised 4.6% drop (previously reported: -4.5% year-on-year). Meanwhile, annual average growth edged down further from August’s minus 2.2% to minus 2.8%, which marked the worst result since October 2009.