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Brazil Economic Activity February 2020

Brazil: Economic activity increases in February

Economic activity increased 0.4% in seasonally-adjusted month-on-month terms in February, up from January’s downwardly revised flat reading (previously reported: +0.2% month-on-month). The result surpassed market expectations of 0.2% growth.

On an annual basis, growth in economic activity rose to 0.6% in February from January’s 0.1% rise. Meanwhile, annual average growth in economic activity edged down to 0.7% from 0.8%.

Looking ahead, the economy is expected to take a significant hit from the coronavirus pandemic and containment measures put in place in March to combat the outbreak in Brazil. Nevertheless, fiscal and monetary stimulus should cushion the blow somewhat.

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