Brazil Economic Activity June 2018

Brazil

Brazil: Economic activity rebounds in June

August 30, 2018

In June, economic activity rebounded, growing 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 May’s 3.3% contraction, which had marked the worst drop on record, and marked an all-time high for the indicator. The rebound was caused by the normalization of economic activity after a nationwide truckers’ strike caused widespread disruptions in May.

On an annual basis, economic activity grew 1.8%, contesting May’s 2.9%. Annual average growth in economic activity rose to 1.3% in June from 1.1% in May.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 1.7% in 2018, which is unchanged from last month’s estimate. For 2019, the panel of analysts sees GDP rising 2.5%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity June 2018 0

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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