Brazil Economic Activity

Brazil

Brazil: Economic activity registers timid expansion in April

June 13, 2014

In April, economic activity expanded 0.1% 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 figure marked an improvement over the flat reading tallied in March. The result was on par with market expectations.

On an annual basis, economic activity contracted 2.3% in April, which markedly contrasted the 0.3% rise tallied in March. Economic activity has now reached the lowest level since July 2009. Meanwhile, annual average growth fell from 3.1% in March to 2.2% in April.

The Central Bank’s Inflation Report from March indicates that it expects GDP to grow 2.3% in 2014. LatinFocus Consensus Forecast panelists expect the economy to expand 1.8% in 2014, which is unchanged from last month’s estimate. For 2015, the panel sees GDP growth at 2.1%.


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Brazil Economic Activity April 2014

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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