August 12, 2019 / 12:09 PM / 3 months ago

Brazil IBC-Br economic activity index higher than expected in June, but shows Q2 fall

BRASILIA, Aug 12 (Reuters) - Economic activity in Brazil rose in June and by more than economists had expected, a central bank indicator showed on Monday, but contracted slightly over the course of the second quarter, suggesting the economy slipped into recession.

The central bank’s IBC-Br economic activity index, a leading indicator of gross domestic product (GDP), rose 0.30% in June from May, higher than the 0.10% expected in a Reuters poll of economists.

The index fell 0.13% in the three months to June, however, indicating that the economy may have slipped into recession following the index’s fall of 0.68% in the first quarter. (Reporting by Jamie McGeever)

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