Brazilian economy grows 0.25% in May 2024

The Brazilian economy grew by 0.25% in May, according to data from the Central Bank Economic Activity Index (IBC-Br) released on Monday (15th). The IBC-Br is a key indicator of the country’s Gross Domestic Product (GDP).

In May, the observed index reached 148.86 points. When seasonally adjusted, the index rises to 149.60 points. In April, the seasonally adjusted index was 149.23.

Compared to May 2023, when the observed index was 146.95 points (145.93 points seasonally adjusted), the increase is 1.3%. Year-to-date (January to May), the growth is 2.01%, and over the past 12 months, it reaches 1.66%.

Besides indicating economic expansion, the IBC-Br is also one of the references used by the Central Bank to determine the basic interest rate (Selic), which is currently 10.5% per year.

Source: Agência Brasil

Original text available at https://agenciabrasil.ebc.com.br/economia/noticia/2024-07/economia-brasileira-cresceu-025-em-maio

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