Brazil: Economic activity rebounds in February
April 15, 2015
In February, economic activity rose 0.4% 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 contrasted January’s 0.1% decrease and beat market expectations of a 0.2% fall.
On an annual basis, economic activity fell 3.2%, which followed January’s 1.8% contraction. February’s result marked the largest contraction since July 2009. Meanwhile, annual average growth fell from minus 0.4% in January to minus 1.0% in February, continuing the downward trend in economic activity that prevailed for most of last year.