Brasília – Economic activity in Brazil rose 2.3% in the first quarter, as per the Central Bank’s Economic Activity Index (IBC-Br) made public on Thursday, May 13. The index was up on a non-seasonally adjusted basis from Q4 2020.
According to the Central Bank, year on year the index rose a non-seasonally-adjusted 2.27%. In March, the economic activity was down 1.59% month on month. Year on year, though, the index rose a non-seasonally adjusted 6.26%.
IBC-Br tracks economic activity in Brazil on a monthly basis. The index incorporates information on the level of activity on the three sectors of the economy, namely industry, commerce and services, and agriculture, as well as the volume of taxes. But the official indicator is the Gross Domestic Product (GDP) from the Brazilian Institute of Geography and Statistics (IBGE).
Translated by Guilherme Miranda
