According to the Central Bank, February GDP data from the IBC-Br monthly figures showed the economy contracting by 0.23% month over month (seasonally adjusted).
Ihe IBC-Br is the index of monthly economic activity from the Central Bank, and the monthly GDP proxy is now been below trend for the seventh straight month.
The closely monitored Index of Economic Activity of the Central Bank, or IBC-Br, showed that the Brazilian economy grew at a seasonally adjusted rate of a disappointingly low 1.55 percent over the last 12 months.