Brazil Economic Activity February 2022

Economic activity increased 0.3% in month-on-month seasonally-adjusted terms in February, which contrasted January’s 0.7% decrease. That said, the result came in below market expectations of a 0.5% rise.

On an annual basis, economic activity rose at a quicker rate of 0.7% in February (January: +0.2% yoy). Meanwhile, the trend was unchanged, with annual average growth of economic activity coming in at January’s 4.8% in February.

LatinFocus Consensus Forecast panelists project GDP to grow 0.6% in 2022, which is unchanged from last month. For 2023, the panel sees GDP expanding 1.5%.