Brazil’s economic recovery continued into the second quarter, according to the Brazilian Central Bank’s Economic Activity Index (IBC-Br) for April, released Friday. The index showed a rise in economic activity of 0.28% in April against the previous month and 0.51% against April of 2016. The latest index comes two weeks after release of first quarter gross domestic product figures showing a first-quarter expansion of 1.0% against the fourth quarter of 2016. The April index showed modest growth in virtually all areas, including retail sales, industrial production and services. The index is seasonally adjusted. Brazil suffered two straight years of recession in 2015 and 2016. Economists are hoping for a modest recovery this year and more robust growth in 2018. Recent political instability, however, has led some to roll back growth projections.
Link to Central Bank release.More Testimonials