Brazil: Economic activity records zero growth in April
June 16, 2016
In April, economic activity recorded zero growth over 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 was a slight improvement from March’s 0.4% contraction but worse than market analysts’ expectations of 0.3% growth. The print marked the end of over one year of falling activity as the economy lingers in recession.
On an annual basis, economic activity plummeted 5.0%, which was an improvement compared to March’s revised 6.4% fall (previously reported: -6.3% year-on-year). Meanwhile, annual average growth inched down from March’s minus 5.3% to minus 5.4%, which marked a multi-year low.