The Latest Economic Activity Indicators

BRAZIL ECONOMICS - Report 21 Dec 2015 by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Caio Carbone

Last week two important indicators of economic activity were published: a) the IBC-Br, pointing to a further GDP contraction; and b) the real retail sales data (restricted sense, excluding cars and construction materials), which showed slight growth after eight straight months of decline. This last result, however, is not a sign of reversal in the household consumption pattern, which will register a contraction in the fourth quarter, nor is it an indication of a reversal in the declining path for GDP.

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