Brasília – Economic activity continued to pick up in November, the Brazilian Central Bank said this Monday (15). The monetary authority’s seasonally-adjusted Economic Activity Index climbed 0.49%.
Year-on-year in November, activity was up 2.82% as per unadjusted figures, since equal periods are being compared. In the 12 months through November, activity was up 0.68%. Year-to-date through November, it was up 0.97%.
The index comprises information regarding three sectors of the economy: industry, trade and services, and agriculture, plus tax revenue. It was designed to track the evolution of economic activity in Brazil, and the Central Bank relies on it to set its benchmark interest rate (aka the Selic rate). The official activity indicator, however, is the Gross Domestic Product (GDP) from the Brazilian Institute of Geography and Statistics (IBGE).
*Translated by Gabriel Pomerancblum
