Brazil: Economic activity shrinks in March
Latest reading: Economic activity—a proxy for GDP—declined 0.7% on a seasonally adjusted month-on-month basis in March, following a 0.9% increase in the prior month. March’s reading was the weakest since May 2025.
Relative to the prior month’s figures, readings in March softened for the agricultural sector (-0.2% in seasonally adjusted month-on-month terms vs +1.4% in February), the industrial sector (-0.2% vs +0.7% in February) and the services sector-which accounts for roughly 60% of GDP- (-0.8% vs +0.6% in February).
In annual terms, economic activity was up 3.1% in March, following a 0.1% decline in the prior month.