Brazil: Economic activity falls at sharpest pace since March 2021 in April
Economic activity dropped 0.4% in month-on-month seasonally-adjusted terms in April, which contrasted March’s 1.1% increase. The figure marked the steepest contraction since March 2021.
On an annual basis, economic activity rose at a softer pace of 2.2% in April (March: +2.6% yoy). Accordingly, the trend pointed down, with the annual average growth of economic activity coming in at 3.5% in April, down from March’s 4.6%.