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Economic activity in Brazil experienced its largest decline since May 2003, when a national truckers strike virtually paralyzed key sectors of the economy, slowing a recovery after the recession.
The index of economic activity of the central bank fell 3.34 compared to April, less than the median of a decline of 3.45% expected in a Reuters poll.
Economists have integrated in their forecasts the impact of protests after indicators of a wide range, from retail sales In a note to customers, Alberto Ramos, economist at Goldman Sachs, said that he expected the June economic indicators to show that most of it was reversed, if not all, the damage that was recorded in May.
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The protests of truckers blocked the main roads of Brazil in the last weeks of May, this which caused product shortages and increased inflation with strength.
The protests generated a series of downward adjustments in growth forecasts between economists, in both the public and private sectors.
Reuters reported last week that the Brazilian government would lower its forecast for the expansion of gross domestic product (GDP) from 2018 to 1.6% from 2.5%.
Even so, this annual growth rate of 1.6% would be the highest in Brazil since 2013. Interest rates at very low levels maintain the prospects for a slow but steady economic recovery. .
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