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LatinNews Daily - 15 February 2021

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In brief: Preview of GDP confirms 2020 slump in Brazil

* Brazil’s central bank (BCB) has released its indicator of economic activity (IBC-Br), a proxy for GDP growth, for December 2020, which shows that economic activity expanded 0.64% month-on-month compared with November, and 1.34% year-on-year. Over the course of 2020, the IBC-Br accumulated a negative result of -4.05%, confirming forecasts for a GDP contraction. Brazil’s GDP is broadly expected to have shrunk between 4%-5% last year.