The Conference Board Leading Economic Index for Brazil, together with Fundação Getulio Vargas, which measures current economic activity (TCB/FGV Brazil LEI), fell 0.6 percent in June.
After a 0.1 percent decline in May and a 1.1 percent decline in April, the index now stands at 89.5. The manufacturing survey's expectations index, the service sector survey, expectations index, swap rate and the terms of the trade index have been attributed to the June slide.
“The Leading Economic Index for Brazil fell in June for the eighth consecutive month, and its six-month change remains in negative territory," Paulo Picchetti, an economist at FGV/IBRE, said. "The LEI continues to suggest that the current weakness in the economic environment is unlikely to change for the better any time soon. The prolonged cyclical weakness in the economy is a big challenge to realizing Brazil's long-term growth potential."
The Conference Board Coincident Economic Index for Brazil, together with FundaçãoGetulio Vargas, increased 0.3 percent to 103.5 in June, following no change in May and a 0.5 percent decline in April.
TCB/FGV Brazil LEI, launched in July 2013, has successfully signaled turning points in the economic cycles of Brazil. The Conference Board also produces LEIs for Australia, China, France, Germany, Japan, India, Korea, Mexico, Spain, the United Kingdom and the United States.
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