Brazil Economic Activity August 2021

Brazil

Brazil: Economic activity deteriorates in August

October 15, 2021

Economic activity dropped 0.2% in month-on-month seasonally-adjusted terms in August, which contrasted July's 0.2% increase. The print was worse than market analysts’ estimates, who had expected a flat reading.

On an annual basis, economic activity rose 4.7% in August, which was below July’s 5.4% expansion and marked the lowest result since February. Meanwhile, annual average economic activity growth rose to 4.0% in August (July: +3.2%), signaling an improving trend in activity.

LatinFocus Consensus Forecast panelists project GDP to grow 5.0% in 2021, which is unchanged from last month. For 2022, the panel sees GDP expanding 1.9%.


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Brazil Economic Activity August 2021

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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