Brazil’s Economic Activity Falls as High Rates Weigh on Growth

Brazil’s economic activity fell slightly more than expected in September, a sign that growth is flagging under double-digit borrowing costs.

The central bank’s economic activity index, a proxy for gross domestic product, dropped 0.24% from the month prior, more than the -0.2% median estimate from analysts in a Bloomberg survey. From a year before, the index advanced 1.98%.