World Economy

Brazil Economy Worsens

Brazil Economy WorsensBrazil Economy Worsens

Economic activity in Brazil fell for the 10th straight month in December, central bank data showed on Thursday, adding to evidence that the recession in Latin America’s biggest country is far from bottoming out. The Brazilian central bank’s IBC-Br economic activity index fell 0.52% in December from the previous month, the bank said. A Reuters survey of 20 analysts forecast a 0.63% decline in the indicator, a gauge of activity in the farming, industry and services sectors. For all of 2015, activity fell a staggering 4.1%, the index showed. Economists expect the Brazilian economy to shrink again by more than 3% this year.