Brazil unemployment rate fell to 11% in the quarter ended in December last year, totalling 11.6 million people out of work, according to the National Continuous Survey of Household Samples (PNAD Contínua), published today by the Brazilian Institute of Geography and Statistics (IBGE). Compared to the same period last year, there was a reduction of 520 thousand unemployed people, when the rate was 11.6%. The increase in informality was the main driver of the recovery.
The Extended National Consumer Price Index (IPCA) closed 2019 at 4.31%, surpassing the key target for the year, which was 4.25%, says the Brazilian Institute of Geography and Statistics (IBGE) latest report. It is the highest annual inflation since 2016, when the index stood at 6.29%. December IPCA rose 1.15%, the highest result in a December month since 2002.
After three consecutive months of growing, Brazilian industrial production fell 1.2% in November, compared to October, and 1.7% compared to the previous year, according to the Brazilian Institute of Geography and Statistics (IBGE). This is the largest monthly decline since March (-1.4%) and the worst November since 2015 (-1.9%). Year to date, the industrial sector has fallen by 1.1%, indicating that the Brazilian industry still faces difficulties in engaging a recovery path.