Brazil: Economic activity hits six-month low in December
February 12, 2015
In December, 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 marked a deterioration over the zero growth tallied in November, but beat market expectations of a 0.9% decrease. In addition, December’s result represented a 6-month low.
On an annual basis, economic activity rose 0.7%, which contrasted November’s 1.3% contraction. Meanwhile, annual average growth fell from November’s negative 0.1% to minus 0.2% in December, which cemented the downward trend in economic activity that prevailed for 2014.