From the Newsroom
São Paulo – Brazil’s economy grew by 1.74% in Q3 from Q2, as per seasonally adjusted Economic Activity Index (IBC-Br) numbers released by the Central Bank this Friday (16).
The monetary authority said the index picked up as a result of a trucker strike holding back the economy in Q2, which saw 0.2% growth.
In September alone, the season-adjusted IBC-Br showed Gross Domestic Product (GDP) shrinking by 0.09% over August, but climbing 0.72% year-on-year. Brazil’s GDP was up 1.14% year-to-date through September and 1.45% in the 12 months through September.
The index is intended to anticipate official GDP figures from the Brazilian Institute of Geography and Statistics (IBGE).
Translated by Gabriel Pomerancblum