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Brazil Economic Activity September 2022

Brazil: Economic activity rebounds mildly in September

Economic activity was flat in month-on-month seasonally-adjusted terms in September. The result followed August’s 1.1% decrease, which had marked the worst reading since March 2021. Septembers outturn surprised markets on the downside, as they had prices in a 0.2% expansion.

On an annual basis, economic activity rose at a more moderate pace of 4.0% in September (August: +5.0% yoy). Still, annual average economic activity growth rose to 2.3% in September (August: +2.1%), pointing to an improving trend.

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