LatinNews Daily - 18 January 2022

In brief: Brazil’s economic activity picks up

* Brazil’s central bank (BCB) has released the latest figures for the monthly index of economic activity (IBC-Br), which saw a positive variation in November 2021 after three consecutive months of negative performance. The IBC-Br grew 0.69% in November compared with October, and 4.30% in the 12 months to November. In the rolling quarter ending in November, however, the IBC-Br contracted 0.79%. The figure serves as a proxy for GDP. Brazil is expected to have seen around 4.7% GDP growth in 2021, but the economy is expected to slow right down this year; private sector economists surveyed weekly by the BCB currently expect just 0.29% growth in 2022. 

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