Santander maintains stability projection for GDP 4Q25 after weaker result of IBC-Br

By Anna Scabello São Paulo, 12/15/2025 - Santander Brasil maintained the projection of stability for the Gross Domestic Product (GDP) of the fourth quarter at the margin, following the weaker result of the Central Bank's Economic Activity Index (IBC-Br) for October. The estimate, it says, reflects the more intense negative impacts of monetary tightening, while the resilience in the labor market and fiscal impulse from the third quarter of 2025 prevent a more pronounced loss of momentum. The IBC-Br fell 0.25% in October at the margin, a result below the median of the Broadcast Projections survey, which was an expansion of 0.10%. The estimates ranged from a decrease of 0.50% to an increase of 0.56%. "The breakdown of the result showed more negative signs, as agriculture was the only positive contribution in the month, while both industry ...