Brazil Economic Activity May 2018

Brazil

Brazil: Economic activity plummets in May

July 20, 2018

In May, economic activity plunged 3.3% from 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 April’s 0.5% expansion and marked the worst drop on record. A nationwide truckers’ strike which halted economic activity was chiefly behind the downturn.

On an annual basis, economic activity fell 2.9% in May, contrasting April’s 3.7% rise. Annual average growth in economic activity fell from 1.5% in April to 1.1% in May.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 1.9% in 2018, which is unchanged from last month’s estimate. For 2019, the panel of analysts sees GDP rising 2.6%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity May 2018

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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