Brazilian economic activity increased in November for the third month in a row, Reuters reports.

The news agency says the Brazilian economic activity index compiled by the Brazilian central bank rose by 0.49 percent in November from the month before, after adjustment for seasonal factors.

The report says Brazilian gross domestic product may turn out to have grown by about 1 percent last year, having shrunk in each of the preceding two years, as consumer spending increased and inflation slowed.

A weekly survey by the central bank found economists forecast that GDP will grow by 2.7 percent this year, expanding faster than in any year since 2013, Reuters says.