Brazil Economic Activity March 2019


Brazil: Economic activity drops again in March

May 15, 2019

In March, economic activity decreased 0.3% in seasonally-adjusted month-on-month terms, according to the Central Bank’s monthly indicator for economic activity. The result followed February’s revised 1.0% drop (previously reported: -0.7% month-on-month) and marked the third consecutive fall. Moreover, the weak print capped off a poor first quarter for the Brazilian economy and signals that GDP could have contracted on a sequential basis.

On an annual basis, economic activity plunged 2.5% in March, notably contrasting February’s revised 2.4% increase (previously reported: +2.5% year-on-year). Annual average growth in economic activity inched down from February’s 1.2% to 1.1% in March.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 1.8% in 2019, which is unchanged from last month’s estimate. For 2020, the panel of analysts sees GDP rising 2.4%.

Author: Angela Bouzanis, Lead Economist

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Brazil Economic Activity Chart

Brazil Economic Activity March 2019

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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