Brazil Economic Activity February 2015

Brazil

Brazil: Economic activity improves in February

April 26, 2016

In January, economic activity fell 0.3% 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 less pronounced decline than January’s revised 0.7% fall (previously reported: -0.6% month-on-month) and was in line with market analysts’ expectations. The print marked the 12th consecutive month of decline as the economy remains stuck in recession.

On an annual basis, economic activity plummeted 4.5%, which was an improvement compared to January’s revised 7.7% fall (previously reported: -8.1% year-on-year). Meanwhile, annual average growth remained at January’s minus 4.6%, which marked a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 3.6% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.7%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity February 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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