Brazil economic activity surged in February, before Covid-19 second wave impact

Economy Minister Paulo Guedes has pointed to record tax revenue and formal jobs in January and February as evidence of growth. Now he can add the IBC-Br activity index, a leading indicator of gross domestic product.

RIO DE JANEIRO, BRAZIL - Brazil's economic activity surged in February, a Central Bank index showed on Monday, one of the strongest gains on record and a sign that the economy had been humming along nicely before it was hit by a deadly second wave of the Covid-19 pandemic.

Economy Minister Paulo Guedes has pointed to record tax collection and formal jobs in January and February as evidence of this. Now he can add the IBC-Br activity index, a leading indicator of gross domestic product.

The index rose a seasonally adjusted 1.7% in February, marking the tenth . . .

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