Brazil’s economic activity grows 2.41% in first quarter, according to Central Bank

Brazilian economic activity registered a growth of 2.41 percent in the first quarter of the year in relation to the last three months of 2022, the Central Bank of Brazil preliminarily estimated yesterday, Friday.

According to the Economic Activity Index (IBC-Br), considered as a prior on the behavior of the Gross Domestic Product (GDP), it was the highest quarterly advance since the fourth quarter of 2020.

The IBC-Br detailed that the economic activity of the South American country advanced in the first three months of the year by 3.87 percent compared to the same period in 2022.

The Central Bank of Brazil indicated that in the last 12 months until last March, the indicator had an increase of 3.31 percent.

Experts warned that the IBC-Br figures should not be taken literally since the monetary institution’s estimates do not always coincide with the official GDP results published by the Brazilian Institute of Geography and Statistics (IBGE).

According to IBGE, Brazil’s economy grew 2.9 percent in 2022, i.e., it showed a slowdown from the 5 percent recorded in 2021.

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