Brazil Economic Activity November 2020


Brazil: Economic activity growth moderates further in November

January 18, 2021

Economic activity increased 0.6% in month-on-month seasonally-adjusted terms in November, which followed October's 0.8% increase and marked the worst reading since April.

On an annual basis, economic activity dropped 0.8% in November, moderating notably from October’s 2.8% fall and marking the best result since February. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 4.2% in November, down from October's minus 4.0%.

LatinFocus Consensus Forecast panelists project GDP to grow 3.5% in 2021, which is unchanged from last month. For 2022, the panel sees GDP expanding 2.5%.


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Brazil Economic Activity Chart

Brazil Economic Activity November 20 20

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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