Brazil economic activity rebounds in June
The result contrasted May’s revised 0.4% decrease (previously reported: -0.5% month-on-month) and surprised market analysts, who had expected a softer 0.3% increase.
On an annual basis, economic activity fell 0.6% in June, which contrasted May’s 1.6% increase
Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 2.0%, which was up from May’s minus 2.2%.
The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to grow 0.4% in 2017, which is unchanged from last month’s estimate. For 2018, the panel of analysts sees GDP rising 2.0%. ■