Brazil Economic Activity June 2016

Brazil

Brazil: Economic activity in June expands at fastest pace since December 2014

August 17, 2016

In June, economic activity expanded 0.2% 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 result contrasted May’s 0.4% contraction. The result was in line with market analysts’ expectations.

On an annual basis, economic activity fell 3.1%, which was an improvement compared to May’s 4.9% fall. Meanwhile, the trend continued to point down and the annual average variation in economic activity worsened from minus 5.5% in May to minus 5.6%, a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 3.3% in 2016, which is unchanged from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.9%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity June 2016 2

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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