Brazilian economic activity advanced significantly in February, with the Central Bank’s Economic Activity Index (IBC-Br) rising for the second month in a row. The index showed a rise of 1.31 percent against January, lending fuel to the idea that Brazil’s economy is finally ready for a recovery following two years of recession. Economic activity was down 0.73 percent against February 2016. The monthly Central Bank index is considered a precursor of quarterly gross domestic product figures. GDP declined in 2016 by 3.6 percent. Economists are hoping for a rebound this year on tame inflation, declining consumer debt and falling interest rates.
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