Brazil economic activity edges down in July: central bank
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
A woman looks on prices at a food market in Rio de Janeiro, Brazil, January 21, 2016. REUTERS/Pilar Olivares/File Photo
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BRASILIA (Reuters) - Economic activity in Brazil edged slightly lower in July, falling short of predictions of a rise and pointing to enduring weakness in Latin America's largest economy, government data showed on Monday.
The 0.09 percent drop in the central bank's IBC-Br index followed a 0.37-percent increase in the preceding month. A Reuters poll of economists had forecast a 0.25 percent rise in economic activity in July.
Compared with a year earlier, the IBC-Br index fell 5.2 per cent.
The IBC-Br is a gauge of activity in the farming, industry and services sectors.
"Activity is likely to contract again in August given, among other things, the expected sizable contraction of industrial production," Goldman Sachs economist Alberto Ramos wrote in a client note about the IBC-Br data.
While Monday's data did not break down economic activity by sector, the government's IBGE statistical agency earlier reported that industrial output
Brazil is in its second year of its worst recession in at least eight decades. Economists have forecast a mild recovery will start in 2017, underpinned by a recent improvement in confidence indexes and industrial investment.
(Reporting by Silvio Cascione; Editing by Chizu Nomiyama and W Simon)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PayPal says some customers unable to make payments due to cyber attack on Dyn
- Mexico arrests ex-police chief linked to student disappearances
- U.S. says it killed 8 al Qaeda-affiliated militants in Yemen
Create E-mail Alert Related CategoriesReuters
Related EntitiesGoldman Sachs, Industrial Production
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!