Brazil Economic Activity


Brazil: Economic activity improves in July

September 21, 2015

In July, economic activity recorded zero growth 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 an improvement from June’s revised 0.7% decrease (previously reported: -0.6% month-on-month) and overshot market expectations of a 0.4% fall.

On an annual basis, economic activity plummeted 4.2%, which was a deterioration from June’s 1.3% contraction. Meanwhile, annual average growth edged down further from June’s minus 1.6%, which was the worst result since November 2009, to minus 1.9% in July.

LatinFocus Consensus Forecast panelists expect the economy to contract 2.4% in 2015, which is down 0.7 percentage points from last month’s estimate. For 2016, the panel sees GDP falling 0.3%.

Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity Chart

Brazil Economic Activity July 2015

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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