Brasília – Economic activity slowed in in Brazil as the year began. The Brazilian Central Bank’s seasonally adjusted Economic Activity Index (IBC-Br), which it released today, slid 0.26% in January from December.
The decline was slightly less sharp than in December, when the index dropped by 0.32% from November. January was the seventh straight month on a downtrend. Year-on-year in January, activity slid by 4.61%. In the 12 months through January, activity was down 3.99%.
The IBC-Br tracks the evolution of economic activity in Brazil. The Central Bank relies on it to make decisions regarding the benchmark interest rate, known as the Selic rate.
*Translated by Gabriel Pomerancblum
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