Brazil: Economic activity rebounds in April
Economic activity expanded 0.4% in month-on-month seasonally-adjusted terms in April, which contrasted March’s 1.6% decrease.
On an annual basis, economic activity rose at a quicker rate of 15.9% in April (March: +5.3% yoy). The print marked the best result on record; however, it was flattered by a low base effect. Moreover, the trend improved significantly, with the annual average variation of economic activity coming in at a one-year high of minus 1.2%, up from March’s minus 3.5% reading.