Brazil Economic Activity August 2020

Brazil

Brazil: Economic activity growth eases in August

October 15, 2020

Economic activity increased 1.1% month-on-month in seasonally-adjusted terms in August, a softer expansion than July’s 3.7% rise.

On an annual basis, economic activity fell at a softer pace of 3.9% in August (July: -4.3% yoy), marking the best result since March. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 3.1%, down from July's minus 2.8% reading.

LatinFocus Consensus Forecast panelists project GDP to contract 5.7% in 2020, which is up 0.2 percentage points from last month. For 2021, the panel sees GDP expanding 3.5%.


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Brazil Economic Activity August 20 20

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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