Brazil Economic Activity


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.

LatinFocus Consensus Forecast panelists expect the economy to contract 1.6% in 2015, which is down 0.2 percentage points from last month’s estimate. For 2016, the panel sees GDP growing 0.5%.

Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity Chart

Brazil Economic Activity June 2015

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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