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%.