Brazil Economic Activity November 2021

Brazil

Brazil: Economic activity records best reading since February in November

January 17, 2022

Economic activity rose 0.7% month-on-month in seasonally-adjusted terms in November, contrasting October’s 0.3% fall and marking the first month of growth after four consecutive periods of contraction. Moreover, the figure marked the best result since February and was in line with market expectations.

On an annual basis, economic activity grew 0.4% in November, contrasting October’s 1.6% fall. As a result, the trend improved, with the annual average growth of economic activity coming in at 4.3%, up from October's 4.2% reading.

LatinFocus Consensus Forecast panelists project GDP to grow 0.9% in 2022, which is down 0.3 percentage points from last month. For 2023, the panel sees GDP expanding 1.8%.


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Brazil Economic Activity November 2021

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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