Brazil: Economic activity contracts in January
In January, economic activity decreased 0.4% in seasonally-adjusted month-on-month terms, according to the Central Bank’s monthly indicator for economic activity (IBC-Br, Indice de Atividade Economica do Banco Central). The result contrasted December’s 0.2% expansion and marked an eight-month low.
On an annual basis, economic activity expanded 0.8% in January, notably above from December’s 0.3%. Annual average growth in economic activity inched down to 1.0% in January, below December’s 1.1%.