Brazil Economic Activity November 2016

Brazil

Brazil: Economic activity grows in November

January 13, 2017

In November, economic activity in Brazil expanded 0.2% from the previous month in seasonally-adjusted terms, according to the Central Bank’s monthly indicator for economic activity (IBC-Br, Indice de Atividade Economica do Banco Central). The result contrasted October’s 0.2% fall and marked the best reading in five months. The result overshot market analysts’ expectations of a slight contraction.

On an annual basis, economic activity fell 2.0% in November, which was a stark improvement compared to October’s 5.3% decrease. Meanwhile, the trend improved and the annual average variation in economic activity came in at minus 4.8%, up from October’s minus 5.1%.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 0.6% in 2017, which is down 0.2 percentage points from last month’s estimate. For 2018, the panel of analysts sees GDP rising 2.2%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity November 2016

Note: Month-on-month changes of seasonally adjusted IBC-Br (Indice de Atividade Economica do Banco Central) and annual average growth rate in %.
Source: Central Bank of Brazil.


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