In the third quarter, GDP increased 0.6% over the previous quarter in seasonally adjusted terms. The figure was above the 0.2% expansion observed in the second quarter (previously reported: +0.4% quarter-on-quarter) but came in well below market expectations of a 1.2% rise. Compared to the same quarter last year, the economy added 0.9%, up from the 0.5% increase tallied in Q2 and below market expectations of a 1.9% rise. On the domestic side, private consumption expanded 0.9% over the previous quarter (Q2: +0.7% qoq), while government consumption added a meagre 0.1% (Q2: +1.0% qoq). Fixed investment, on the other hand, fell for the fifth consecutive quarter and contracted 2.0% (Q2: -1.6% qoq), the largest drop in more than three years. On the external side of the economy, exports of goods and services rose 0.2%, which contrasted the 3.5% decline seen in Q2. Imports, however, declined 6.5% (Q2: -1.5% qoq).
Growth continues to disappoint in the third quarter
November 30, 2012
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Brazil GDP Chart
Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation %.
Source: Brazil Institute of Geography and Statistics (IBGE) and LatinFocus Consensus Forecast.
Brazil Economic News
October 19, 2016
At its 19 October meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to cut the benchmark SELIC interest rate for the first time in four years, lowering it from 14.25% to 14.00%.
October 18, 2016
Retail sales (excluding cars and construction) fell 0.6% in August from the previous month in seasonally-adjusted terms.
October 7, 2016
Consumer prices in September increased 0.08% over the previous month, the lowest rise since July 2014.
October 4, 2016
In August, industrial production plunged 3.8% over the previous month in seasonally-adjusted terms, which significantly contrasted the 0.1% expansion recorded in July and marked the worst result since January 2012.
October 3, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in September, increasing from August’s 45.7 to 46.0.