Brazil Economic Activity

Brazil

Brazil: Economic activity swings to contraction in August

October 16, 2015

In August, economic activity fell 0.8% 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 was adeterioration from July’s flat reading and a more pronounced decline than market expectations of a 0.6% contraction.

On an annual basis, economic activity plummeted 4.5%, which was a deterioration from July’s 4.3% contraction. Meanwhile, annual average growth edged down further from July’s minus 1.9% to minus 2.2%, which continued to mark the worst result since November 2009.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 2.7% in 2015, which is down 0.3 percentage points from last month’s estimate. For 2016, the panel of analysts sees GDP falling 0.8%, which is down 0.5 percentage points from last month’s projection.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity Chart


Brazil Economic Activity August 2015

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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