Brazilian economy is growing at a record pace
2022.12.01 08:54
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Brazilian economy is growing at a record pace
Budrigannews.com – The Brazilian economy slowed down in the second quarter, showing growth below expected, but at the same time sufficient to bring it to the highest level since it was created in 1996.
On Thursday, IBGE published data that the country’s gross domestic product increased by 0.4% in the three months from September.
The largest Latin economy reached a level 4.5% higher than the pandemic in the fourth quarter of 2019 and for the fifth consecutive quarter reached a growth rate of 4.5%, which again led to the growth of the service sector.
However, the declining dynamics underscores the difficulties to be expected, because the aggressive policy of the central bank to combat inflation dependence is beginning to intensify activity and overshadow government demands before the presidential elections in October this year, which contributed to the growth of demand in the market.
In the dominant service sector, growth of 1.1% is expected in the third quarter, in industry – growth of 0.8%, in agriculture – growth of 0.9%.
Investments increased by 2.8%, government spending increased by 1.3%, consumer spending increased by 1.1% on the demand side.
Economists had expected Brazil to increase GDP by 3.7% in the third quarter of 2021. IBGE also revised the results of the second quarter from 1.2% to 1.0% growth than in the previous quarter.
However, the growth for the first quarter increased from 1.1% to 1.3%
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