Brasília – The Brazilian Central Bank reported this Wednesday (17) that its seasonally-adjusted Economic Activity Index (IBC-Br) was up 0.47% in August from July. Revised data also show the economy gaining month-on-month in July, by 0.65%, and in June, by 3.45%.
Year-on-year in August, Brazil’s economy saw 2.5% growth as per non-adjusted numbers. In the 12 months through August, the IBC-Br was up 1.5%. Year-to-date through August, it was up 1.28%.
The IBC-Br tracks economic activity in Brazil, and the Central Bank relies on it to steer decisions regarding the benchmark interest rate, aka the Selic rate. The indicator is intended to anticipate economic behavior, but the official indicator is the Gross Domestic Product (GDP) from the Brazilian Institute of Geography and Statistics (IBGE).
Translated by Gabriel Pomerancblum
