SAO PAULO--Brazil's economic activity dropped in February, increasing expectations Latin America's largest economy will post tepid activity in the first quarter of this year.
The Brazilian central bank's economic activity index, or IBC-Br, was down 0.52% from the previous month on a seasonally adjusted basis, while it was up 1.88% from the year-ago period.
The index is widely considered a leading indicator for gross domestic product growth, but has been criticized recently for not capturing the tepid activity of the third quarter of 2012 when a slowdown in financial services hurt overall economic performance.
The tepid activity in February was prompted by reductions of retail sales volume and industrial production.
Brazil's economy grew by a paltry 0.9% in 2012, but economists expect growth of about 3.0% this year.
After efforts to jump-start the economy last year failed to gain much traction, the Brazilian government is taking more measures to fuel investment, mainly in infrastructure areas, and has also moved to cut taxes.
nasdaq.com
The Brazilian central bank's economic activity index, or IBC-Br, was down 0.52% from the previous month on a seasonally adjusted basis, while it was up 1.88% from the year-ago period.
The index is widely considered a leading indicator for gross domestic product growth, but has been criticized recently for not capturing the tepid activity of the third quarter of 2012 when a slowdown in financial services hurt overall economic performance.
The tepid activity in February was prompted by reductions of retail sales volume and industrial production.
Brazil's economy grew by a paltry 0.9% in 2012, but economists expect growth of about 3.0% this year.
After efforts to jump-start the economy last year failed to gain much traction, the Brazilian government is taking more measures to fuel investment, mainly in infrastructure areas, and has also moved to cut taxes.
nasdaq.com
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