Brazil economic activity gauge falls more than expected in June
SAO PAULO Aug 19 (Reuters) - A gauge of economic activity in Brazil fell at a faster-than-expected pace in June on a seasonally adjusted basis, data showed on Wednesday.
The Brazilian central bank's IBC-Br economic activity index fell 0.58 percent in June from the prior month, the bank said in a report on Wednesday. A Reuters survey of nove analysts forecast a 0.53 percent decline in the indicator.
Based on that result, the Brazilian economy might have contracted by 1.89 percent in the second quarter from the previous quarter, according to Thomson Reuters calculations.
The IBC-Br index is a gauge of activity in the farming, industry and services sectors and is an early trend indicator for gross domestic product figures released later by the government statistics bureau. (Reporting by Guillermo Parra-Bernal and Bruno Federowski Editing by W Simon)
© Thomson Reuters 2016 All rights reserved.