Brazil’s IBC-Br economic activity index fell 0.7% month-on-month in March 2026, reversing a 0.6% increase in February and missing forecasts for a 0.2% decline. The services sector contracted 0.8% after expanding 0.3% in the previous month. Industrial activity and the agriculture and livestock sector both declined 0.2%, following gains of 1.2% and 0.2%, respectively, in February. The taxes index also fell 0.2% after rising 0.8% in the prior month. Excluding agriculture and livestock, the IBC-Br dropped 0.9% in March. On an annual basis, the index expanded 3.1%.