Brazil: Economic activity flat in November
January 15, 2015
In November, economic activity recorded zero growth over 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 figure marked an improvement over the 0.1% contraction tallied in October and beat market expectations of a 0.2% decrease.
On an annual basis, economic activity declined 1.3% in November, which followed the 1.2% decrease tallied in October. Meanwhile, annual average growth swung from a positive 0.2% in October to negative 0.1% in November, which represented the lowest level since January 2010 and cemented the downward trend in economic activity that has prevailed for most of 2014.