Economic activity in Brazil rose by 0.04 percent in November last year compared with the previous month, the Brazilian Central Bank announced on Thursday.

The Bank’s economic activity index posted a drop of 0.49 percent compared to the same period in the prior year.

Economic activity growth measured in month-on-month terms stood above the median estimate in a Reuters survey of 24 analysts, which pointed to a 0.20 percent drop.

The Brazilian Central Bank’s economic activity index, known as IBC-Br, is a gauge of activity in the farming, industry and services sectors. The index is adjusted for seasonal factors.

Financial analysts expect Brazil’s Gross Domestic Product to have posted growth of 0.18 percent in 2014, reports Brazilian news agency Agência Brazil.