Brazil Economic Activity Up for 4th Month

The IBC-Br Index of Economic Activity in Brazil, a leading indicator of output growth, rose by 0.40% from the previous month in February 2024, following a downwardly revised 0.52% increase in the prior month.

It marks the fourth consecutive month of mild growth in economic activity, driven by retail sales (+1% vs +2.8% in January).

Conversely, output decreased in the key services sector (-0.9% vs 0.7%) and also in industry (-0.3% vs -1.5%).

On a non-seasonally adjusted basis, the IBC-Br expanded by 2.59% over February 2023 and grew by 2.34% over the past 12 months.