Brazil Economic Activity


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.

LatinFocus Consensus Forecast panelists expect the economy to expand 0.2% in 2015, which is down 0.1 percentage points from last month’s estimate. For 2016, the panel sees GDP growth at 0.7%.

Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity Chart

Brazil Economic Activity November 2014

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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