ECONOMIC ACTIVITY – THE LATEST INDICATORS

BRAZIL ECONOMICS - Report 19 Jul 2021 by Affonso Pastore, Cristina Pinotti and Paula Magalhães

Despite the frustration over the performance of the IBC-Br for May (decline of 0.43% when the expectation was elevation of 1.1%), there are no reasons to alter the growth projections for 2021. The recovery continues to be favored by the expansion of global trade and the rising commodity prices. With respect to the domestic indicators, except for services rendered to households and those related to tourism, real revenue from services is rising, and despite the interruption of supply chains, industry has resumed growing, accompanied by better confidence, whose indicator remains above 100 points, pointing to continuing growth of GDP, which should end the year above 5% (our projection is 5.2%).

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