New Evidence of Decelerating Economic Activity

BRAZIL ECONOMICS - Report 21 Jul 2014 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

The proxy for GDP computed by the Central Bank (IBC-Br) brought more evidence that Brazil’s economic growth is decelerating. With the decline of 0.2% in May, the carry over to the second quarter is -0.1%, and in light of all the signs of further weakening in June, the most probable outcome is that GDP in the second quarter fell (Graph 1). With this, it is clearer that growth in 2014 will be below 1%.

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