Brazil: Economic activity rebounds in June
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.