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.