Brasília – Economic activity picked up in Q3 2019 in Brazil, as per the Economic Activity Index (IBC-Br) released this Thursday (14) by the Brazilian Central Bank. The index climbed 0.91% compared with Q2, and 0.99% from Q3 2018.
Activity was up 0.44% in September from August, 2.11% year-on-year in September and 0.99% in the 12 months through September 2019.
The monthly IBC-Br is designed to steer Central Bank policymaking regarding the benchmark interest rate, known as the Selic. The official economic indicator, however, is the Gross Domestic Product (GDP) figure made public by the Brazilian Institute of Geography and Statistics (IBGE) on a quarterly basis.
Translated by Gabriel Pomerancblum