Brazil: Economic activity deteriorates in June
August 21, 2015
In June, economic activity fell 0.6% 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 deterioration from May’s revised 0.1% increase (previously reported: 0.0% month-on-month) and undershot market expectations of a 0.5% fall.
On an annual basis, economic activity fell 1.2%, which was an improvement from May’s 4.7% contraction. May’s figure had marked the largest contraction since April 2009. Meanwhile, annual average growth inched up from May’s minus 1.7%, which was the worst result since November 2009, to minus 1.6% in June.