Volume retreated from R $ 345.2 billion in the 4th quarter from 2024 to R $ 345.0 billion in the 1st quarter of 2025
The usual actual real income mass – the sum of all the gross income of people occupied in all work – retreated from R $ 345.2 billion in the 4th quarter from 2024 to R $ 345.0 billion in the first quarter of 2025. According to the Brazilian Institute of Geography and Statistics), this was the 1st fall registered since the 1st quarter of 2023, or 2 years ago. This is the report (PDF – 3 MB).
The volume of income fell 0.05% in the 1st quarter compared to the previous quarter. The fall interrupted a sequence of 7 consecutive high quarterly. The mass of income went from R $ 303.7 billion in the first quarter of 2023 to R $ 345.2 billion in the 4th quarter of 2024, it corresponds to an increase of 13.7% in the period, or R $ 41.6 billion.
The mass of yield is the term used to define the sum of all income of the population with wages, pensions and other sources of income.
Compared to the 1st quarter of 2024, the volume increased by 6.56%. It was the smallest rise since 2022, but the rate was almost the same as last year.
Although small, the drop of 0.05% over the 4th quarter of 2024 can signal the beginning of economic discourse. The (Central Bank) said the slowdown is. The Copom (Monetary Policy Committee) that the best performance in the labor market contributes to increased income and raises consumption.
The board said there “Real gains above productivity“. The monetary authority said that”inflection”In the labor market is part of the monetary policy mechanism.
The BC has signaled that the discouraging of the labor market is a step towards a future fall in the Selic rate. The projections of the financial agents that the interest will fall only by 2026.
Data from the performance mass demonstrates still incipient weakening, which corroborates the speech of BC President Gabriel Galipolo that the Selic rate will be high by period “very prolonged”.
States and DF
The state of São Paulo had a reduction from R $ 104 billion to R $ 101 billion in income mass. According to IBGE, there was a drop in volume in 8 of the 27 Federation units. The largest increase was from Rio de Janeiro, which increased R $ 1.9 billion.
What is mass of yield
Real yield mass is the sum of gross income usually received from all people occupied in all the work they had in the reference week, at prices of the month of the 1st quarter of 2025.
The deflator used for the calculation is the IPCA (National Consumer Price Index).
