Brazil Economic Activity March 2015


Brazil: Economic activity deteriorates in March

May 13, 2016

In March, economic activity fell 0.4% 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 decline was slightly more pronounced than February’s 0.3% fall and was worse than market analysts’ expectations of a smaller 0.1% drop. The print marked the 13th consecutive month of decline as the economy remains stuck in recession.

On an annual basis, economic activity plummeted 6.3%, which was a stark deterioration compared to February’s revised 4.7% fall (previously reported: -4.5% year-on-year). Meanwhile, annual average growth fell from February’s minus 4.7% to minus 5.3%, which marked a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 3.6% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.7%.


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Brazil Economic Activity Chart

Brazil Economic Activity March 2016

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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