LatinNews Daily - 20 April 2021

In brief: Brazil’s economic activity expands in February

* Brazil’s central bank (BCB) has released the latest figures for the monthly index of economic activity (IBC-Br), which serves as a preview of GDP growth, according to which economic activity expanded 1.70% in February compared with January. Economic activity expanded 0.98% year-on-year in February, while the IBC-Br has accumulated a 0.23% variation in the first two months of 2021, and a -4.02% contraction in the 12 months to February. The February result was stronger than expected, but analysts have been revising down GDP projections as the country feels the effects of a second wave of coronavirus (Covid-19) infections. Private sector analysts consulted weekly by the BCB for its Focus bulletin now project 3.04% growth for 2021, down from 3.08% a week earlier and the seventh consecutive downwards revision. 

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