Brazil Economic Activity November 2015

Brazil

Brazil: Economic activity in November declines for sixth consecutive month

January 15, 2016

In November, economic activity fell 0.5% 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 was a less-pronounced decline than October’s 0.6% fall and beat market analysts’ expectations of a 1.0% drop. However, the print marked the sixth consecutive month of decline as the economy remains stuck in recession.

On an annual basis, economic activity plummeted 6.1%, which was a softer drop compared to October’s 6.3% fall. Meanwhile, annual average growth edged down further from October’s minus 3.1% to minus 3.5%, which marked a multi-year low.

The analysts surveyed for this month’s LatinFocus Consensus Forecast expect the economy to contract 2.6% in 2016, which is down 0.8 percentage points from last month’s estimate. For 2017, the panel of analysts sees GDP rising 0.9%.


Author: Angela Bouzanis, Senior Economist

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Brazil Economic Activity November 2015

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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