Household Consumption: No Reason for Optimism

BRAZIL ECONOMICS - Report 19 Jan 2015 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

The steady decline of industrial output in 2014 is one of the reasons for the stagnation of the IBC-Br (Graph 1). Although there are some discrepancies between the quarterly variations of GDP and the IBC-Br, they tend to even out over longer periods, during which the IBC-Br acts as a good proxy for the behavior of GDP. The stagnation of the IBC-Br is a strong indication of zero GDP growth in 2014.

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