UPDATE 1 — Brazil economic activity up 0.3% in August, matching forecasts
(Adds further data, context) BRASILIA, Oct 16 (Reuters) — Economic activity in Brazil rose by a seasonally adjusted 0.3% in August from the previous month, a central bank index showed on Friday, matching the median forecast in a Reuters poll of economists. The IBC-Br index, a proxy for gross domestic product, is compiled using the bank's estimates for agriculture, industry and services, as well as taxes linked to production August's gain was driven by industry, which expanded 0.9% from July On an unadjusted basis, the index was up 1.2% from a year earlier and rose 1.6% on a rolling 12-month basis through August Brazil's central bank has argued that slower economic activity is needed for inflation to converge to its 3% target The bank forecasts gross domestic product growth of 1.8% this year, slowing to 1.4% in 2027 Policymakers are due to meet in early November for their next monetary policy decision after delivering five straight 25-basis-point interest rate cuts, bringing the benchmark Selic rate to 13.75% (Reporting by Marcela Ayres; Editing by Isabel Teles) ((mailto:marcela.ayres@thomsonreuters.com; +55 11 5047-2444;)
(Adds further data, context) BRASILIA, Oct 16 (Reuters) — Economic activity in Brazil rose by a seasonally adjusted 0.3% in August from the previous month, a central bank index showed on Friday, matching the median forecast in a Reuters poll of economists.
The IBC-Br index, a proxy for gross domestic product, is compiled using the bank's estimates for agriculture, industry and services, as well as taxes linked to production August's gain was driven by industry, which expanded 0.9% from July On an unadjusted basis, the index was up 1.2% from a year earlier and rose 1.6% on a rolling 12-month basis through August Brazil's central bank has argued that slower economic activity is needed for inflation to converge to its 3% target The bank forecasts gross domestic product growth of 1.8% this year, slowing to 1.4% in 2027 Policymakers are due to meet in early November for their next monetary policy decision after delivering five straight 25-basis-point interest rate cuts, bringing the benchmark Selic rate to 13.75% (Reporting by Marcela Ayres; Editing by Isabel Teles) ((mailto:marcela.ayres@thomsonreuters.com; +55 11 5047-2444;)