Economics
Brazil Economic Activity Slows Down as Government Handouts Wane
- Central bank’s economic activity index +0.59% m/m; -0.83% y/y
- Activity index is seen as a proxy for gross domestic product
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Brazil’s economic activity slowed in November, as the government pared back emergency cash handouts to informal workers amid the coronavirus pandemic.
The economic activity index, which is a proxy for gross domestic product, rose 0.59% compared to the previous month, the central bank reported on Monday. From a year ago, activity dropped 0.83%.