In the last week, the central bank released some of the indices that were delayed due to the servers strike, which came to an end on July 4th. Such data indicate that the level of economic activity in Brazil, which is measured by the Economic Activity (IBC-BR), grew by 1.09% in March and dropped by 0.44% in April this year. In the period of the first four months of this year, growth reached 1.6% according to BC.
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The Economic Activity Index (IBC-BR), calculated by the BC, is known as the “GDP Preview”. The Gross Domestic Product (GDP) is the sum of all goods and services produced in the country and serves to measure the evolution of our economy.
The indicator used by BC tries to anticipate the official GDP result, and released by the Brazilian Institute of Geography and Statistics (IBGE). The most recent data that were released by the BC had an increase of 0.34% in the indicator that was observed in February.
With the strike by BC employees coming to an end, the institution released the March result along with the April data.
The expectation for this year is that the financial market will have a rise of 1.2% in GDP, with a strong slowdown when related to the 4.6% growth in 2021. The Ministry of Economy has projected GDP growth of around 1.5% in 2022.
It is also worth mentioning that, in June, the Selic rate reached 13.25% per year, the highest level recorded since 2016. The Central Bank stated that the forecast is for a new increase in the Selic rate at the next meeting, scheduled for the beginning of August.
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