Brazil Economic Activity July 2020

Brazil

Brazil: Economic activity slows in July

September 14, 2020

Economic activity grew 2.1% month-on-month in seasonally-adjusted terms in July, moderating from the 5.3% increase logged in the previous month.

On an annual basis, economic activity fell at a softer pace of 4.9% in July (June: -6.3% yoy). Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 2.9% in July, down from June's minus 2.4%.

LatinFocus Consensus Forecast panelists project GDP to contract 5.9% in 2020, which is up 0.7 percentage points from last month. For 2021, the panel sees GDP expanding 3.6%.


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Brazil Economic Activity July 20 20 0

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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