Brasília – Economic activity slid in Brazil last August, as per numbers released by the Brazilian Central bank this Thursday (20). The monetary authority’s seasonally-adjusted Economic Activity Index (IBC-Br) eased by 0.91% over July. This came as the widest month-on-month drop since -1.02% in May 2015.
Year-on-year in August, activity fell 2.72% based on non-adjusted figures, since equal periods are being compared. The 12 months through August saw a 5.48% decline, and year-to-date through August, activity was down 4.98%. Although the IBC-Br tracks Brazilian economic activity, the official measure of economic performance is the Gross Domestic Product (GDP), calculated by the Brazilian Institute of Geography and Statistics (IBGE).
*Translated by Gabriel Pomerancblum
