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.