Brazil’s IBC-Br Rises 0.7% in November as Central Bank Revises October Higher

Overview

• The Central Bank’s activity index (IBC-Br) increased 0.7% in November from October.
• October’s reading was revised from a 0.25% decline to a 0.73% expansion.
• In the three months to November activity rose 1.4% versus the prior quarter, November was up 1.2% year over year, and both the 12‑month and year‑to‑date measures stood at 2.4%.
• Sector data showed industry up 0.8%, services up 0.63%, taxes up 1.13%, and agriculture down 0.3%, with the ex‑agriculture index up 0.7%.
• The result topped the VALOR DATA median forecast of 0.40% and remained within the projected range, as the BC reiterated that IBC‑Br differs from IBGE’s GDP and is subject to revisions.