Brazil: Economic activity continues to rise in December
February 16, 2012
In December, economic activity rose 0.6% 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 reading followed on November's 1.3% expansion. On an annual basis, economic activity expanded 1.5%, which nearly doubled the 0.8% increase recorded in November. The trend, however, continues to point downwards, with annual average growth falling from 3.0% in November to 2.7% in December. The IBC-Br is highly correlated to the GDP series and thus represents a good proxy for economic growth.