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.