Brazil’s IBC-Br economic activity index fell 0.2% month-over-month in October 2025, matching the decline recorded in September. Industrial output contracted 0.7%, while services activity declined 0.2% and tax revenues fell 0.4%. In contrast, agriculture and livestock expanded 3.1%. Excluding agriculture, the IBC-Br decreased 0.3%. On a year-on-year basis, overall economic activity grew 0.4%.