Brasil Índice Económico Adelantado

The IBC-Br Index of Economic Activity in Brazil, a leading indicator of output growth, rose by 0.1% month-on-month in November 2024, matching the pace set in October, contrary to analysts' expectations that it would remain unchanged. This increase was likely propelled by positive performance in agriculture. However, the services sector, the main engine of Brazil's economy, fell by a more-than-expected 0.9% in November, notching the biggest monthly drop since April 2023. At the same time, industrial activity shrank by 0.6% during the month and retail activity decreased by 0.4%. On a non-seasonally adjusted basis, the IBC-Br grew by 4.3% over November 2023 and increased by 3.6% over the past 12 months.