Brazil Economic Activity December 2015

Brazil

Brazil: Economic activity declines for tenth consecutive month

February 17, 2016

In December, 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 slightly less-pronounced decline than November’s revised 0.6% fall (previously reported: -0.5% month-on-month) and beat market analysts’ expectations of a 0.6% drop. However, the print marked the tenth consecutive month of decline as the economy remains stuck in recession.

On an annual basis, economic activity plummeted 6.5%, which was a more pronounced drop compared to November’s 6.2% fall. Meanwhile, annual average growth edged down further from November’s minus 3.5% to minus 4.1%, which marked a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 2.9% in 2016, which is down 0.3 percentage points from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.8%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity December 2015 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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