Industry and agriculture showed a drop of 0.2%, while in the services sector, the negative variation was 0.8%
The IBC-Br released today fell 0.7%, much worse than market projections. The drop was widespread across all segments. Industry and agriculture fell by 0.2%, while in the services sector, the negative variation was 0.8%.
The result reflects the slowdown in the economy for 2026, mainly in the services sector. According to IBGE data, this segment showed a decline for 5 consecutive months until March.
The loss of momentum in economic activity is already predicted by the financial market. According to the Central Bank’s Focus report, which brings together projections from banks, brokers, funds and economic consultancies, the median GDP growth is 1.85% for this year.
Evidently, the slowdown in the economy has repercussions on the job market. Not surprisingly, the unemployment rate has worsened at the margin. At the end of last year, it was at a historic low, at 5.1% and, in March of this year, it increased to 6.1%.
In addition to the increase in unemployment, this scenario brings another risk: the worsening of public accounts. The government has played hard to boost the economy at any cost, especially in an election year. According to a survey by BTG for the newspaper O Estado de São Paulo, the fiscal impact of all government measures for 2026 – gas aid, financing subsidies, income tax exemption, etc. – is approximately R$140 billion.
Unfortunately, this figure could become even higher, with negative impacts on the fiscal deficit, debt and interest. If economic activity data continues to worsen, this amount could rise even further. After all, they do the devil to win elections.
*This text does not necessarily reflect the opinion of Jovem Pan.
