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.
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.