*Brazil’s central bank (BCB) has released the latest IBC-Br economic activity index, used as a proxy to anticipate GDP figures, which showed that economic activity in December 2023 increased 0.82% from the previous month and 1.36% from the same month in 2022. This latest figure marks the fourth consecutive month which registered a monthly rise in the IBC-Br index. The annual economic activity for 2023 also showed a 2.45% increase compared to 2022. Although the national statistics institute (Ibge) has not yet released its figures for economic growth in 2023, Brazilian university and think tank Fundação Getulio Vargas (FGV) has released a report estimating that the country’s annual GDP growth last year was 3.0%, largely driven by significant annual growth for the agricultural sector (+15.8%).
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LatinNews Daily - 20 February 2024
In brief: Brazil’s economic activity rises in December
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