Brazil: Economic activity grows at multi-year high in February
April 17, 2017
In February, economic activity in Brazil grew 1.3% from the previous month in seasonally-adjusted terms, according to the Central Bank’s monthly indicator for economic activity (IBC-Br, Indice de Atividade Economica do Banco Central). The result marked the fastest growth in over 7 years and was an improvement from January’s revised 0.6% increase (previously reported: -0.3% month-on-month). In addition, the reading beat market analysts’ expectations of a 0.6% expansion and provides evidence that the country is emerging from the worst recession in decades.
On an annual basis, economic activity fell 0.7% in February, which contrasted January’s 0.5% increase. Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 3.9%, which was up from January’s minus 3.9%.