The GDP (Gross Domestic Product) forecast grew 0.57% in the 2nd quarter, compared to the previous one. The Brazilian Central Bank’s IBC-Br (Economic Activity Index) was higher than market estimates in June. It rose 0.69% compared to May.
The monetary authority released the data on Monday, August 15.
The June result was above the median projections of the financial market, which expected an increase of 0.38% for the month. It was the first positive monthly result after two consecutive months of decline in economic activity.
The GDP forecast also grew 3.09% in comparison to June 2021.
From January to June, the Brazilian economy grew 2.24%. The accumulated growth over 12 months was 2.18%.
THE IBC-BR
An index registered every month since 2010; the IBC-Br is an antecedent measurement of the country’s economic growth. The index incorporates estimates for farming, industry, and services and taxes on products.
The country’s official GDP is measured by IBGE and considers the result of all goods and services produced by the country in a given period.
With information from Poder360