Brazil: Economic activity rebounds in June
September 4, 2017
In June, economic activity rose 0.5% 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 May’s revised 0.4% decrease (previously reported: -0.5% month-on-month) and surprised market analysts, who had expected a softer 0.3% increase.
On an annual basis, economic activity fell 0.6% in June, which contrasted May’s 1.6% increase. Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 2.0%, which was up from May’s minus 2.2%.