Brazil: Economic activity broadly stable in November
In November, economic activity rose 0.5% 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 was slightly above October’s 0.4% increase and overshot market analysts’ expectations of a softer 0.4% rise.
On an annual basis, economic activity rose 2.8% in November, which was below October’s 3.1% expansion. Meanwhile, the trend continued to improve and annual average growth in economic activity came in at 0.3% in October to 0.7% in November, the best reading since September 2014.