Today, positive indications for Brazil’s Q1 GDP. The government gets closer to approving the 2021 budget. And pro-Bolsonaro social media stir conspiracy talks.
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Brazil could have positive Q1 GDP numbers
The Central Bank published its most recent Economic Activity Index (IBC-Br), and data suggests the Brazilian economy managed to heat up somewhat in February.
Why it matters. Considered to be a good predictor of the official GDP figures, the IBC-Br rose 1.7 percent from January. This was the tenth consecutive month of growth, coming 0.2 points above even the most optimistic forecasts, and wiping out the most pessimistic scenarios for the first quarter. Analysts now see a much better chance of Brazil having a positive Q1 GDP result.
- The official GDP numbers...