Brazil: Economic activity drops in March
May 22, 2015
In March, economic activity fell 1.1% 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 contrasted February’s 0.6% increase and was below market expectations of a 0.5% fall. In addition, March’s result marked a nine-month low.
On an annual basis, economic activity rose 0.5%, which contrasted February’s 4.1% contraction. Meanwhile, annual average growth remained unchanged at February’s minus 1.3%.