LatinNews Daily - 20 May 2025

*Brazil’s central bank (BCB) has released its latest IBC-Br economic activity index, used as a proxy to anticipate GDP figures, which showed a 3.5% year-on-year rise in activity in March and a 0.8% increase in monthly terms. The index showed growth in the first quarter of 2025 of 3.7%, compared with the same period last year, and of 1.3% as compared to the previous quarter. The year-on-year growth in Q1 was driven overwhelmingly by the agricultural sector, which saw a 17.3% rise in economic activity. The industrial sector grew by 2.9%, while services were up by 2.5%. Citing expectations of increased economic activity, the finance ministry yesterday raised its GDP growth forecast for 2025 to 2.4%, up from 2.3% in its previous forecast in March, while maintaining its 2026 forecast at 2.5%.

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