The IBC-Br index, akin to a snapshot of Brazil’s GDP, declined by 0.77% in August.
The drop was more than what financial experts had guessed. They thought it would go down by only 0.4%.
The Central Bank shared these numbers last Friday. If you’re curious, a full report is out for people to read.
Now, let’s look at the year-over-year numbers. Economic activity in August rose by 1.28% compared to the same month last year.
Next, we turn to the bigger picture. For the entire year so far, the early GDP numbers are up by 3.06%.
Over the past 12 months, they’ve risen by 2.82%. These figures give us a glimpse of how the economy is doing over different time periods.
Finally, it’s good to know what the IBC-Br is. It gives us a monthly snapshot of how much the country is producing.
In contrast, the official GDP comes out every three months. The Brazilian Institute of Geography and Statistics is the group that shares those numbers.
Now, some context. The IBC-Br index is quite important. It helps both the government and companies plan for the future.
A rise in the index usually means people will spend more. Like the one we saw, a fall may lead to more savings and less spending.
This index is one of the tools that experts use to try and predict what Brazil’s economic health will look like.