Factors driving Brazil's economic growth are fading -economist

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IBC-Br index fell 0.7% in December month on month

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Aggressive monetary tightening is hurting growth -economist

(Adds comment from economist in paragraphs 6-7)

By Marcela Ayres

BRASILIA, Proxy Sales Feb 17 (Reuters) - Brazil's economy expanded 3.8% in 2024, central bank data showed on Monday, extending a streak of stronger-than-expected growth but losing momentum in recent months amid aggressive monetary tightening.

The annual result followed a seasonally adjusted 0.7% drop in the IBC-Br index in December from the previous month, while economists polled by Reuters had expected a 0.4% decline.

The index, which incorporates proxies for output in agriculture, industry, and services along with tax data on production, is considered a leading indicator of gross domestic product.