Brazil’s IBC-Br Falls in July

Brazil’s IBC-Br economic activity index, a key GDP proxy, fell 0.5% month-on-month in July 2025, the third straight decline after a 0.1% drop in June and worse than market expectations of -0.2%.

Agriculture and livestock output fell 0.8%, industry contracted 1.1%, and services edged down 0.2%.

The IBC-Br taxes index declined 0.7%, while the measure excluding agriculture dropped 0.4%.

Compared to July 2024, the index rose 1.1%.