Brazil: Decline in economic activity softens in October
Economic activity dropped 0.4% month-on-month in seasonally-adjusted terms in October, which was a slight moderation from September’s 0.5% fall. The print was marginally below market analysts’ expectations of a 0.2% decline.
On an annual basis, economic activity dropped 1.5% in October, contrasting September’s 0.7% expansion and marking the first decline in activity since January. Meanwhile, annual average growth of economic activity was steady coming in at September’s 4.2% in October.