Brazil Activity Tops Forecast as Economy Weathers High Rates

Brazil’s economic activity accelerated slightly faster than expected in February, a sign that the economy remains resilient to the drag of double-digit borrowing costs.

The central bank’s economic activity index, a proxy for gross domestic product, picked up 0.6% from the month prior, above the 0.54% median estimate of analysts in a Bloomberg survey. From a year ago, the index came in at -0.27%.