Brazilian economic activity drops in November but annual rate maintains growth of 3.15%

Brazilian economic activity drops in November but annual rate maintains growth of 3.15%
Brazilian economic activity fell 0.55% in November compared to October, but maintains an annual growth rate of 3.15%, the country’s Central Bank reported today.

The so-called Economic Activity Index (IBC-Br), which the monetary authority measures monthly in an attempt to anticipate the evolution of the Brazilian Gross Domestic Product (GDP), performed worse in November than expected by the financial market, which projected a minor negative result.

However, the indicator advanced 1.65% compared to the same month of 2021.

Between January and November 2022, the economic activity of the largest economy in Latin America accumulated an increase of 3.26%.

The Brazilian Central Bank predicts a growth of the Brazilian economy for 2022 of 2.9%, a calculation close to that of the market (3.03%) and a little more optimistic than that of the Government (2.7%).