Brazil: Economic activity hits record high in June
Economic activity increased 4.9% month-on-month in seasonally-adjusted terms in June, which followed May’s 1.6% increase. The reading marked the strongest rise on record, largely reflecting further easing of social-distancing measures and the reopening of businesses.
On an annual basis, economic activity plummeted 7.1% in June (May: -14.1% yoy). Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 2.6%, down from May’s minus 2.1%.