The Brazilian Economic Activity Index (IBC) grew by 2.9 % in 2022, which is interpreted as the advance data of the Gross Domestic Product (GDP) of Brazil, which will be released in early March by the Brazilian Institute of Geography and Statistics (IBGE).

As reported by the Central Bank of Brazil, this data is lower than that registered in 2021, when economic activity experienced growth of 4.68 %. Despite this slowdown, the Brazilian economy expanded by 0.29 % in December compared to November.

Regarding the fourth quarter, the economy suffered a fall of 1.46 % compared to the previous quarter, although it grew by 2.05 % in interannual terms.

According to the Economic Commission for Latin America and the Caribbean (Cepal), the Brazilian economy would have grown by 2.9 % in 2022, while the International Monetary Fund forecasts that the expansion was 3.1 %.

Source: dpa

(Reference image source: Shot by Cerqueira, Unsplash)

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