Brazil’s Economic Activity Posts First Monthly Drop This Year
- Economic activity fell 0.34% in March; estimate was -0.25%
- Central bankers said they see more restrictive monetary policy
A customer pays at a vegetables stall in Sao Paulo, Brazil.
Photographer: Miguel Schincariol/AFP/Getty ImagesThis article is for subscribers only.
Brazil’s economic activity dropped for the first time this year as central bankers pledge more restrictive monetary policy to assure inflation slows back to target.
The central bank’s economic activity index, a proxy for gross domestic product, fell 0.34% March from the prior month, more than the -0.25% median estimate from analysts in a Bloomberg survey. From a year ago, the gauge dropped 2.18%, according to data published on Wednesday.