MercoPress. South Atlantic News Agency
Economic activity in Brazil plunges 4.47% in the last twelve months to August
The Brazilian central bank’s IBC-Br economic activity index, a gauge of activity in the farming, industry and services sectors, fell 0.76% in August from July 
Brazil’s economy has slipped into its worst recession, hit by high inflation, rising interest rates and a string of tax hikes and spending cuts by President Rousseff. Economic activity in Brazil fell for a third straight month in August, Central Bank data showed, adding to evidence of a steeper-than-expected recession in the country. The figures were unveiled on the same day the government dismissed rumors over the resignation of Finance Minister Joaquim Levy.
Augusts' economic activity plunged 4.47% versus a year earlier in non-seasonally-adjusted data, deepening its slide from a 4.28% year-on-year drop in July. The Brazilian central bank’s IBC-Br economic activity index, a gauge of activity in the farming, industry and services sectors, fell 0.76 percent in August from the prior month.
Brazil’s economy has slipped into its worst recession in 25 years, hit by high inflation, rising interest rates and a string of tax hikes and spending cuts by President Dilma Rousseff.
Economists have reduced their estimates for the country’s economic performance on the absence of signs of a recovery. According to a weekly Central Bank survey of 100 economists, Brazil’s economy is expected to contract 2.97% this year.
The weak performance came against a backdrop of high inflation, at more than 9% year on year, well above the 6.5% upper limit of the Central Bank’s target range.
The IBC-Br index is an early indicator of gross domestic product data. IBGE, the country’s statistics institute, will publish third-quarter economic activity results on December 1.
Top Comments
Disclaimer & comment rules-
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Read all commentsLula and Dilma always took credit for the economic growth of the country, for the “millions taken out of poverty”, for the low inflation, for the strong currency. Now none wants to take the blame for the current situation of high unemployment, high inflation and negative growth.
Oct 19th, 2015 - 09:59 am 0Going down, down, down. Corruption and criminality everywhere. In business, in government, on the streets. And this is a country that thinks it's deserving on a permanent seat on the UN Security Council? It's only deserving of a permanent seat in a toilet. Note the “balanced” views of Brasiliero.
Oct 19th, 2015 - 10:08 am 0My Brasshole impressive:
Oct 19th, 2015 - 05:52 pm 0We are finally on our way to achieving exactly what we want, freedom from the white slave masters. The proof of independence shows in the ever worsening economy and alignment with other dictorial counties that are also in decline, China, Russia, Syria, Iran.....and let's not discount North Korea.
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ANd in the news:
http://seekingalpha.com/article/3581176-brazils-currency-plummets-on-reports-of-joaquim-levys-resignation
3% this morning alone.
http://seekingalpha.com/article/3581176-brazils-currency-plummets-on-reports-of-joaquim-levys-resignation
http://seekingalpha.com/article/3581176-brazils-currency-plummets-on-reports-of-joaquim-levys-resignation
http://seekingalpha.com/article/3581176-brazils-currency-plummets-on-reports-of-joaquim-levys-resignation
COme on Tobi, we're waiting for some Brasshole entertainment!!!
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