Brazilian Economy Grows 2.7% In 12 Months
The data was released on Thursday (4) by statistics agency IBGE. The quarterly increase of 0.1% is considered by the IBGE as stability, meaning it is not statistically significant. According to the institute, GDP reaches BRL 3.2 trillion.
SectorsFrom the second to the third quarter, industry recorded the highest growth (0.8%), followed by agriculture (0.4%). The performance of the services sector, which accounts for the largest share of GDP, was nearly flat at 0.1%. Within services, the main contributors were transportation, storage, and postal services (+2.7%), information and communication (+1.5%), and real estate activities (+0.8%).
In the industrial sector, growth was seen in extractive industries (1.7%), construction (1.3%), and manufacturing (0.3%). On the expenditure side, household consumption remained nearly flat at 0.1%, while government consumption increased by 1.3%. Gross fixed capital formation (GFCF), an indicator measuring a country's productive capacity through investments, rose 0.9%. Exports contributed with a 3.3% increase.
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Translated by Guilherme Miranda
Marcio Ferreira/Brazil Transport MinistryThe post Brazilian economy grows 2.7% in 12 months appeared first on ANBA News Agency.
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