Brazil’s July Activity Falls More than Expected Ahead of Rate Decision
Agriculture led the decline as industry also fell and services were flat, while economists expect another 25 basis point cut to 13.75%.
- On Wednesday, Brazil's central bank reported economic activity fell 0.2% in July, marking a second consecutive month of contraction for the nation's economy.
- Latin America's largest economy is cooling as elevated borrowing costs weigh on activity, following a revised 0.9% drop in June.
- The IBC-Br index, a central bank proxy for gross domestic product, showed agriculture declined 1.2% while industry fell 0.4%; however, year-on-year growth reached 1.1%.
- Policymakers will announce their next rate decision later Wednesday, with economists in a Reuters poll forecasting a 25 basis point cut to 13.75%.
- Andres Abadia, Pantheon Macroeconomics' chief Latin America economist, argued "the growth data increasingly argue for lower rates; the inflation backdrop argues for getting there gradually.
14 Articles
14 Articles
Brazil's July activity falls more than expected ahead of rate decision ...
The Central Bank's Economic Activity Index (CBI-Br) declined 0.2% in July compared to June, with seasonal effects discounted. It was the second consecutive monthly fall of the indicator, considered a thermometer of the performance of the Brazilian economy. The result was mainly pulled by the agricultural sector, which fell 1.2% in the month, and by the industry, with a fall of 0.4%. The service sector, which has the highest weight in the indicat…
Brazilian economic activity declined 0.2% in July compared to June, according to data from the Central Bank Economic Activity Index (CBI-Br) released on Wednesday (16). The indicator is...
Forbes, the world's most well-conceived business and economic magazine. The IBC-Br retreated more than expected by the market and accumulated a contraction of 0.3% in the quarter, with industry and agriculture pulling the fall. Result reinforces signs of deceleration before the decision of the Copom The post-Principal GDP decrease 0.2% in July and Indica Loss of Rhythm of the Brazilian Economy appeared first in Forbes Brazil.
IBC-Br records a contraction of 0.2% in comparison to June, influenced by seasonal factors; services are stable, and Copom decides Selic on Wednesday (16) Brazilian economic activity lost strength in July. The Central Bank Economic Activity Index (CBI-Br), known as the previous GDP, recorded a negative variation of 0.2% in relation to June, [...]
Brazil's economic activity recorded a further acceleration in July of this year, a result worse than the financial market estimates, although with a slight improvement in comparison to the previous month. The data were released on Wednesday, 16, by the Central Bank (BC). According to the monetary authority, the Central Bank's Economic Activity Index (CBI-Br), considered a kind of "previous" of the country's Gross Domestic Product (GDP), declined…
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