Brazil’s Economic Struggles Deepen in Challenge for President Lula’s Ambitious Plans
- Activity grew 0.01% in Nov., compared to estimate of 0.2% drop
- President Lula facing headwinds to promises of prosperity
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Brazil’s economic activity stalled in November after three consecutive months of drops, the latest sign of the challenges facing President Luiz Inacio Lula da Silva as he works to deliver greater prosperity.
The central bank’s economic activity index, a proxy for gross domestic product, ticked up 0.01% from the month prior, compared to the -0.2% median estimate from analysts in a Bloomberg survey. From a year ago, the gauge gained 2.19%, according to data published on Friday.