Brazil: Economic activity records best reading since February in November
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.