The IBC-Br index of economic activity in Brazil shrank 0.47 percent month-over-month in April 2019, following an upwardly revised 0.3 percent contraction in March and well below market forecasts of a 0.2 percent gain. Year-on-year, the Brazilian economy contracted a non-seasonally adjusted 0.62 percent, after a downwardly revised 2.37 percent decline in the previous month. Leading Economic Index in Brazil averaged 0.16 percent from 2003 until 2019, reaching an all time high of 3.20 percent in June of 2018 and a record low of -3.26 percent in December of 2008.
Leading Economic Index in Brazil is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Brazil to stand at 0.50 in 12 months time. In the long-term, the Brazil IBC-Br Economic Activity Index is projected to trend around 0.70 percent in 2020, according to our econometric models.