Brésil L'Indice Économique Avancé

The IBC-Br Index of Economic Activity in Brazil, a leading indicator of output growth, rose by a slower 0.1% month-on-month in October 2024, compared to a revised 0.9% growth in September, though it was better than market forecasts of a 0.2% decline. It was the weakest expansion since a 0.3% contraction in July, driven by poor industrial production performance (-0.2% vs. 1% in September) and a slowdown in retail activity (0.4% vs 0.6%). Meanwhile, the service sector, which accounts for about 70% of all activity in Brazil, rose by a more-than-expected 1.1% in October, following a 1% increase in the prior month. On a non-seasonally adjusted basis, the IBC-Br surged by 7.3% over October 2023 and grew by 3.4% over the past 12 months.