The Conference Board Leading Economic Index® for Brazil, Together with Fundacao Getulio Vargas, Fell Again in April

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May 19, 2015, 10:00 ET

RIO DE JANEIRO, May 19, 2015 /PRNewswire/ -- The Conference Board Leading Economic Index^®for Brazil, together with Fundacao Getulio Vargas (TCB/FGV Brazil LEI), declined 0.9 percent in April. The index now stands at 90.3 (2010 = 100), following a 1.1 percent decline in March and a 1.4 percent decline in February. The terms of trade index, manufacturing expectations index, and exports contributed negatively to the index in April.

"The Leading Economic Index for Brazil continued its downward trend through April, although its monthly rate of decline has somewhat moderated," said Paulo Picchetti, Economist at FGV/IBRE. "However, despite this slight moderation, the persistent weaknesses in the leading indicators continue to suggest that the rapid deterioration in Brazil's economic activity will not be reversed anytime soon."

The Conference Board Coincident Economic Index^®for Brazil, together with Fundacao Getulio Vargas (TCB/FGV Brazil CEI), which measures current economic activity, was unchanged at 104.0 (2010 = 100) in April, following a 0.1 percent decline in March and a 0.6 percent decline in February. Three of the six components contributed positively to the index in April.

TCB/FGV Brazil LEI aggregates eight economic indicators that measure economic activity in Brazil. Each of the LEI components has proven accurate on its own. Aggregating individual indicators into a composite index filters out so-called "noise" to show underlying trends more clearly.

About The Conference Board Leading Economic Index^®for Brazil, together with Fundacao Getulio Vargas

TCB/FGV Brazil LEI was launched in July 2013. Plotted back to 1996, this index has successfully signaled turning points in the economic cycles of Brazil. The Conference Board also produces LEIs for Australia, China, the Euro Area, France, Germany, Japan, India, Korea, Mexico, Spain, the United Kingdom, and the United States.

The eight components of TCB/FGV Brazil LEI include:

Swap Rate, 1 year (Source: Central Bank of Brazil)
Stock Price Bovespa Index (Source: BOVESPA - Bolsa de Valores de Sao Paulo/ Sao Paulo Stock Exchange)
Manufacturing Survey: Expectations Index (Source: FGV/IBRE)
Services Sector Survey: Expectations Index (Source: FGV/IBRE)
Consumer Expectations Survey: Expectations Index (Source: FGV/IBRE)
Physical Production of Durables Consumer Goods Index (Source: IBGE - Instituto Brasilieiro de Geografia e Estatistica/ Brazilian Institute of Geography and Statistics)
Terms of Trade Index (Source: FUNCEX - Fundacao Centro de Estudos do Comercio Exterior/The Foundation Center for the Study of Foreign Trade)
Exports Volume Index (Source: FUNCEX - Fundacao Centro de Estudos do Comercio Exterior/The Foundation Center for the Study of Foreign Trade)

https://www.conference-board.org/data/bcicountry.cfm?cid=12

To view The Conference Board calendar of 2015 indicator releases:

http://www.conference-board.org/data/

ABOUT THE CONFERENCE BOARD

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501(c)(3) tax-exempt status in the United States of America.

www.conferenceboard.org

ABOUT FGV/IBRE

The Brazilian Institute of Economics (Instituto Brasilieiro de Economia—IBRE) at Fundacao Getulio Vargas (FGV) was founded in 1951 to research, analyze, produce and disseminate macroeconomic statistics and applied studies. Its purpose is to inform and help improve public policies and private activities in the Brazilian economy. IBRE is a leading institute in calculating the Brazilian GDP and producing price indices including the General Price Index (IGP) which served as Brazil´s official inflation index for many years. In addition to price indices, IBRE prepares trend and business cycle indicators that are widely used by administrators and analysts.

www.fgv.br/ibre

Summary Table of Composite Economic Indexes

	2015			6-month
	Feb	Mar	Apr	Oct to Apr

Leading Economic Index	92.1r	91.1r	90.3p
Percent Change	-1.4	-1.1r	-0.9p	-6.6
Diffusion	25.0	25.0	62.5	25.0
Coincident Economic Index	104.1r	104.0p	104.0p
Percent Change	-0.6r	-0.1p	0.0p	-1.4
Diffusion	8.3	58.3	66.7	16.7

n.a. Not available p Preliminary r Revised
Indexes equal 100 in 2010
Sources: The Conference Board, FGV/IBRE All Rights Reserved