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Economic Research

Brazil: Softening Economic Activity

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7:00:00 AM | Last Updated

Economic Activity

The central bank's monthly economic activity indicator (IBC-BR), a proxy for GDP, showed that GDP continued to ease to 0.1% m/m on a seasonally adjusted (SA) basis in December from 0.3% m/m SA in November (revised down from 0.4% m/m) and 0.5% m/m in October. However, December’s result highlights that the Brazilian economy accelerated at a faster pace in Q4 (4.2% q/q SAAR) than in Q3 (1.2% q/q 2010), pushing the yearly average to 7.8% in 2010 from an average contraction of 0.4% in 2009.

Figure 1: Brazilian GDP Proxy, Retail Sales and Industrial Output (q/q, SAAR) 

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