Brazil’s Economic Activity Caps 2023 With Better-Than Expected Growth
- Activity grew 0.82% on month in December, 2.45% in all 2023
- President Lula wants government spending to boost economy
Shoppers at a market in Rio de Janeiro.
Photographer: Maria Magdalena Arrellaga/BloombergThis article is for subscribers only.
Brazil’s economy grew more than expected in December, indicating activity is still showing some resilience to high interest rates as President Luiz Inacio Lula da Silva readies higher government spending.
The central bank’s economic activity index, a proxy for gross domestic product, rose 0.82% from the month prior, more than the 0.75% median estimate from analysts in a Bloomberg survey. From a year ago, the gauge gained 1.36%, according to data published on Monday.