The Conference Board Leading Economic Index® for Brazil, together with Fundacao Getulio Vargas (TCB/FGV Brazil LEI), increased 0.1 percent in March. The index now stands at 124.9 (2004 = 100), following a 0.6 percent decline in both February and January. Three of the eight components contributed positively to the index in March.

"Stock prices and trade drove the Leading Economic Index slightly higher in March, but continued short-term volatility in the index suggests that Brazil's economic growth will, at best, be very modest in the foreseeable future," says Paulo Picchetti, Economist at FGV/IBRE. "Meanwhile, weaknesses in industrial output outweighed the benefits of continued resiliency in the labor market, resulting in a slight decline in the Coincident Economic Index, which measures current conditions in the economy."

In recent weeks Brazil released the GDP (Gross Domestic Product) result for 2013. With growth of 0.7% in the fourth quarter, the country reached the final result of 2013 at 2.3%. The numbers released by IBGE (Brazilian Institute of Geography and Statistics) positively surprised analysts and entrepreneurs around the world.

The annual figures show Brazil to be one of the most progressive countries on the world scene. With GDP growth of 2.3% in 2013, Brazil ranked ahead of territories like the United States, South Africa, and the UK (each with growth of 1.9%); Japan (1.6%); Mexico (1.1%); Germany (0.4 %); France (0.3%); Belgium (0.2%); Spain (-1.2 %); Italy (-1.9%); and the average for the Eurozone (-0.4%). Only China (7.7%) and South Korea (2.8%) had better results.

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The Conference Board Leading Economic Index® for Brazil, together with Fundacao Getulio Vargas (TCB/FGV Brazil LEI), decreased 1.4 percent in February. The index now stands at 124.9 (2004 = 100), following a 0.8 percent decline in January and a 0.3 percent increase in December. Only one of the eight components contributed positively to the index in February.

Jing Sima, Economist at The Conference Board, said, "The Leading Economic Index declined in February for the second consecutive month, and its six-month growth has fallen back to negative territory. Despite the sharp improvement in the fourth quarter GDP, the persistent and broad-based weakness in the LEI suggests that that pace of growth is unlikely to last through the first half of this year."