LatinNews Daily - 15 November 2022

In brief: Brazil’s economic activity posts minimal growth

* Brazil’s central bank (BCB) has released its latest economic activity index (IBC-Br) showing that the country’s economic activity increased just 0.05% in September compared to August although this was up from the 1.13% monthly decline posted in August. In year-on-year terms, economic activity was up 4% in September. The IBC-Br was created to anticipate Brazil’s official GDP figures, which are calculated by the national statistics institute (Ibge). Between January and September, the index was up 2.93%, and for the 12 months through September, it reached 2.34%. Growth in Q3 2022 was up 1.36% compared with Q2 2022 and up 4.32% in year-on-year terms. The BCB estimates that Brazil’s GDP will expand 2.7% this year. In 2021 the country’s economy grew 4.6% after contracting 3.9% in 2020 due to the coronavirus (Covid-19) pandemic.

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