Brazil's industrial production rose 0.1% in March, up 4.3% YoY, beating forecasts of a 0.9% decline.
All four main industrial categories posted gains, led by oil products (+2.2%) and chemicals (+4.0%).
BoA kept Brazil GDP growth forecast at 2.3% for 2026 and 2.0% for 2027, citing slowing momentum.
The bank warned that restrictive monetary policy will weigh on activity, potentially decelerating growth.