Brazil Economic Activity January 2015

Brazil

Brazil: Economic activity falls further in January

March 18, 2016

In January, 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 slightly more pronounced decline than December’s 0.5% fall and was worse than market analysts’ expectations of a slight expansion. In addition, the print marked the 11th consecutive month of decline as the economy remains stuck in recession.

On an annual basis, economic activity plummeted 8.1%, which was a more pronounced drop compared to December’s 6.2% fall. Meanwhile, annual average growth edged down further from December’s minus 4.0% to minus 4.5%, which marked a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 3.4% in 2016, which is unchanged from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.6%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity January 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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