Brazil Daily

Iceberg, right ahead!

Good morning! Today, Brazil on the verge of (technical) recession. Elon Musk has his eyes on the Amazon. Government forced to take care of historic slavery site in Rio.

Technical recession on the horizon

recession economy
Fears of recession. Illustration: André Chiavassa/TBR

The Central Bank’s economic activity index (IBC-Br) registered drops of 0.27 percent during the month of September and 0.14 percent during Q3. The index is considered to be a reliable predictor of official GDP data.

Why it matters. Per the Brazilian Institute of Geography and Statistics (IBGE), the economy shrank 0.1 percent during Q2. A second negative quarter would put the country into a technical recession.

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