*Brazil’s central bank (BCB) has released its latest economic activity index (IBC-Br), used as a proxy to anticipate GDP figures, which showed a 0.4% monthly rise in activity in February. This marks the fourth consecutive month that the IBC-Br showed a monthly increase, although activity in February increased at a slower rate compared to the monthly rises registered in December and January. Economic activity in February this year was up 2.59% from the same month in 2023. The accumulated activity in the 12 months until February 2024 showed a 2.34% increase from the previous 12-month period. According to the latest figures released by the national statistics institute (Ibge), retail sales continued to rise in February, but industrial production and activity in the services sector both registered monthly slumps.
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LatinNews Daily - 18 April 2024
In brief: Brazil’s economic activity rises in February
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