Brasília – The Brazilian Central Bank’s Economic Activity Index (IBC-Br) was down 0.02% in July from June, based on seasonally adjusted figures. The index was released this Monday (21st). It was the second straight monthly decline. In June from May, activity had dropped 0.73%. Out of the first seven months of the year, February and May were the only ones to see growth, respectively at 0.75% and 0.06%.
In July from a year ago, activity dropped 4.25% based on non-adjusted numbers, since the comparison is between equal months. Year-to-date through July, economic activity dropped 2.74% from a year ago. In the 12 months ended July, the economy slowed down by 1.93% (non-adjusted data).
The IBC-Br tracks the evolution of economic activity in the country on a monthly basis. The official economic performance indicator is the Gross Domestic Product (GDP), reported quarterly by the Brazilian Institute of Geography and Statistics (IBGE). As per a poll of the financial market, Brazil’s GDP is expected to shrink 2.7%, this year.
*Translated by Gabriel Pomerancblum
