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.