Brazil Economic Activity May 2019

Brazil

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.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 1.1% in 2019, which is unchanged from last month’s estimate. For 2020, the panel of analysts sees GDP rising 2.2%.


Author: Angela Bouzanis, Lead Economist

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Brazil Economic Activity May 2019

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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