Brazil: Economic activity improves in February
April 26, 2016
In January, economic activity fell 0.3% over 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 figure was a less pronounced decline than January’s revised 0.7% fall (previously reported: -0.6% month-on-month) and was in line with market analysts’ expectations. The print marked the 12th consecutive month of decline as the economy remains stuck in recession.
On an annual basis, economic activity plummeted 4.5%, which was an improvement compared to January’s revised 7.7% fall (previously reported: -8.1% year-on-year). Meanwhile, annual average growth remained at January’s minus 4.6%, which marked a multi-year low.