Brazil: Economic activity rebounds in May
July 15, 2019
In May, economic activity increased 0.5% in seasonally-adjusted month-on-month terms, according to the Central Bank’s monthly indicator for economic activity. The result followed April’s revised 0.3% drop (previously reported: -0.5% mom) and marked the first increase this year. The reading matched market analysts’ projections and provides hope that the economy may have avoided a technical recession in the second quarter.
On an annual basis, economic activity grew 4.4% in May, contrasting April’s revised 0.5% contraction (previously reported: -0.6% year-on-year). Annual average growth in economic activity rose from 0.7% in April to 1.3% in May.