Brazil Economic Activity September 2021


Brazil: Economic activity remains broadly stable in September

November 16, 2021

Economic activity dropped 0.3% in month-on-month seasonally-adjusted terms in September, which followed August's 0.3% decrease. The print was roughly in line with market analysts estimates.

On an annual basis, economic activity grew 1.5% in September, which was significantly below August’s 4.7% expansion and marked the lowest result since February. Meanwhile, annual average economic activity growth rose to 4.2% in September (August: +4.0%), signaling an improving trend in activity.

LatinFocus Consensus Forecast panelists project GDP to grow 1.6% in 2022, which is down 0.3 percentage points from last month. For 2023, the panel sees GDP expanding 2.0%.


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Brazil Economic Activity Chart

Brazil Economic Activity September 2021

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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