Markets Actual Q1/26 Q2/26 Q3/26 Q4/26
Stock Market 179875.00 176760 168326 163849 159497
Currency 5.23 5.31 5.22 5.17 5.12
Government Bond 10Y (%) 14.13 14.28 14.03 13.89 13.76

Overview Actual Q1/26 Q2/26 Q3/26 Q4/26
GDP Growth Rate (%) 0.10 0.8 1 0.6 1
GDP Annual Growth Rate (%) 1.80 2.5 2.6 2.5 2.2
Unemployment Rate (%) 5.40 5.4 6 6.5 6.4
Inflation Rate (%) 3.81 4.1 4.2 4 3.9
Inflation Rate MoM (%) 0.70 0.1 0.2 0.3 0.1
Interest Rate (%) 15.00 14.5 13.75 13 12.5
Balance of Trade (USD Million) 4210.00 2650 6100 4641 9500
Current Account (USD Million) -8360.00 -7000 -3000 -4500 -5800
Manufacturing PMI (points) 47.30 49.3 49.5 50.1 52
Business Confidence (points) 48.20 47.5 49 51.5 55
Services PMI (points) 53.10 50.5 51.6 52 51
Retail Sales MoM (%) 0.40 0.7 0.3 -0.5 0.8
Current Account to GDP (% of GDP) -3.02 -2.2
Government Debt to GDP (% of GDP) 76.50 83.5
Government Budget (% of GDP) -8.50 -8.8

GDP Actual Q1/26 Q2/26 Q3/26 Q4/26
GDP Growth Rate (%) 0.10 0.8 1 0.6 1
GDP Annual Growth Rate (%) 1.80 2.5 2.6 2.5 2.2
GDP Constant Prices (BRL Million) 340533.46 345566 353446 359397 348025
Gross National Product (BRL Million) 3165315.00 2999849 3192592 3198444 3234952
Gross Fixed Capital Formation (BRL Million) 62922.44 66313 65467 69062 64307
GDP from Agriculture (BRL Million) 15229.26 34203 31545 24672 15564
GDP from Construction (BRL Million) 16832.12 16976 17303 18084 17202
GDP from Utilities (BRL Million) 8091.57 8702 8457 8044 8270
GDP from Mining (BRL Million) 3073.29 2701 2944 3180 3141
GDP from Transport (BRL Million) 9102.57 8768 9160 9702 9303
GDP from Public Administration (BRL Million) 41070.92 41431 42093 42511 41974
GDP from Manufacturing (BRL Million) 29805.85 29109 30845 33132 30462
GDP from Services (BRL Million) 214483.62 206825 212569 218361 219202
GDP (USD Billion) 2179.41 2480
GDP per Capita (USD) 9564.58 9727
GDP per Capita PPP (USD) 19647.91 19982
Full Year GDP Growth (%) 2.30 1.7

Labour Actual Q1/26 Q2/26 Q3/26 Q4/26
Unemployment Rate (%) 5.40 5.4 6 6.5 6.4
Employed Persons (Million ) 102.67 103 103 104 104
Labour Costs (points) 156.32 171 169 178 162
Wages (BRL/Month) 3613.00 3619 3647 3647 3724
Productivity (points) 86.80 96.5 97.1 98.5 91.5
Non Farm Payrolls (Thousand ) 112.33 150 120 90 170
Wages in Manufacturing (BRL/Month) 3417.00 3525 3508 3539 3550
Population (Million) 213.42 214

Prices Actual Q1/26 Q2/26 Q3/26 Q4/26
Inflation Rate (%) 3.81 4.1 4.2 4 3.9
Inflation Rate MoM (%) 0.70 0.1 0.2 0.3 0.1
Consumer Price Index CPI (points) 7479.71 7542 7620 7653 7692
Core Inflation Rate (%) 4.72 4.3 4 3.7 3.4
Producer Prices (points) 165.54 172 165 171 170
Export Prices (points) 158.00 157 159 156 155
Import Prices (points) 122.00 120 124 123 125
Food Inflation (%) 1.76 4.2 4 4.3 3.5
Mid-month Inflation Rate MoM (%) 0.84 0.1 0.2 0.3 0.3
IPC-Fipe Inflation MoM (%) 0.25 0.2 0.1 0.3 -0.1
Producer Price Inflation MoM (%) 0.34 -0.6 0.2 0.5 -0.2
Mid-month Inflation Rate YoY (%) 4.10 4.6 4.3 4 3.6
IGP-M Inflation MoM (%) -0.73 -0.2 0.7 0.3 0.5
CPI Housing Utilities (points) 12572.86 12411 12713 13066 13038
CPI Transportation (points) 7086.55 7094 7108 7129 7136
Producer Prices Change (%) -4.33 0.4 -1.5 3.2 2.8
GDP Deflator (%) 3.80 4.7

Money Actual Q1/26 Q2/26 Q3/26 Q4/26
Interest Rate (%) 15.00 14.5 13.75 13 12.5
Money Supply M2 (BRL Million) 7317828.00 72500000 72940000 73200000 73600000
Loans to Private Sector (BRL Million) 1068501.00 941722 985133 1028985 1086338

Trade Actual Q1/26 Q2/26 Q3/26 Q4/26
Balance of Trade (USD Million) 4210.00 2650 6100 4641 9500
Current Account (USD Million) -8360.00 -7000 -3000 -4500 -5800
Imports (USD Million) 22098.10 24700 25100 24200 23400
Exports (USD Million) 26306.00 27350 31200 28841 32900
Terms of Trade (points) 129.00 131 128 127 124
Foreign Direct Investment (USD Million) 8170.00 5300 5800 4900 800
Crude Oil Production (BBL/D/1K) 3772.77 3960 4120 4250 4400
Current Account to GDP (% of GDP) -3.02 -2.2
Tourist Arrivals (Thousand) 6774.00 7095

Government Actual Q1/26 Q2/26 Q3/26 Q4/26
Gross Debt to GDP (% of GDP) 78.70 80 79.5 78.9 81
Government Debt to GDP (% of GDP) 76.50 83.5
Government Budget (% of GDP) -8.50 -8.8

Business Actual Q1/26 Q2/26 Q3/26 Q4/26
Manufacturing PMI (points) 47.30 49.3 49.5 50.1 52
Business Confidence (points) 48.20 47.5 49 51.5 55
Services PMI (points) 53.10 50.5 51.6 52 51
Composite PMI (points) 51.30 50.2 51 50.5 52
Industrial Production Mom (%) 1.80 -0.6 0.7 0.3 0.5
Industrial Production (%) 0.20 -1.9 -0.8 1.2 2
Manufacturing Production (%) -1.90 -3 2.6 2.2 -1.5
Car Registrations (Units) 185200.00 205000 218000 248000 291000
Car Production (Units) 204300.00 188121 215329 248760 181707
Leading Economic Index (%) 0.80 0.9 1 0.8 0.5

Consumer Actual Q1/26 Q2/26 Q3/26 Q4/26
Retail Sales MoM (%) 0.40 0.7 0.3 -0.5 0.8
Retail Sales YoY (%) 2.80 3 3.2 1.9 3
Consumer Spending (BRL Million) 239771.33 231681 235268 241458 245046
Consumer Credit (BRL Million) 4460700.00 4125923 4136745 4099400 3907845
Bank Lending Rate (%) 61.00 60.5 59.75 59 58.5
Economic Optimism Index (points) 86.10 85 90 89 93
Gasoline Prices (USD/Liter) 1.23 1.24 1.3 1.34 1.38

Housing Actual Q1/26 Q2/26 Q3/26 Q4/26
Housing Index (points) 181.47 180 182 185 188