GDP per capita in Brazil
Brazil - GDP per capita (U.S. Dollars)
GDP grows at softest pace since Q2 2021 in Q3
Underlying momentum strengthened at a softer pace in the third quarter of 2022, with GDP growth waning to 0.4% on a seasonally adjusted quarter-on-quarter basis, from 1.0% in the second quarter. Q3’s reading marked the weakest print since Q2 2021 and surprised analysts on the downside; they had penciled in a 0.6% expansion. Meanwhile, on an annual basis, economic growth moderated to 3.6% in Q3, from the previous period’s 3.7% growth.
Domestically, the quarterly moderation was spearheaded by weaker private consumption and investment growth. Household spending increased a quarterly 1.0% in seasonally adjusted terms in the third quarter, which was below the second quarter’s 2.1% expansion. The lower unemployment rate (Q3: 8.9%; Q2: 9.9%) and average inflation easing to 8.6% in Q3 (Q2: 11.9%) likely supported households’ budgets and prevented a sharper deceleration in spending. Additionally, fixed investment growth moderated to 2.8% in Q3, from 3.8% in the prior quarter. More positively, public consumption rebounded, growing 1.3% in Q3 (Q2: -0.9% s.a. qoq).
Turning to the external sector, exports of goods and services rebounded, growing 3.6% in Q3 (Q2: -2.8% s.a. qoq). Conversely, imports of goods and services growth slowed to 5.8% in Q3 (Q2: +8.7% s.a. qoq). Consequently, the external sector neither contributed nor detracted from overall growth, an improvement from the prior quarter’s 0.4 percentage point detraction.
The LatinFocus panel of analysts see GDP expanding 0.8% in 2023, which is unchanged from last month’s estimate. For 2024, the panel sees the economy growing 1.8%.
Brazil - GDP per capita (USD) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| GDP per capita (USD) | 8,827 | 8,774 | 9,973 | 9,040 | 8,760 |
Brazil Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.79 | -0.82 % | Dec 31 |
| Exchange Rate | 4.02 | -0.13 % | Jan 01 |
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Economic News
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Brazil: Manufacturing conditions deteriorate at milder pace in January
February 1, 2023
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) reversed a seven-month-long streak of declines and rose to 47.5 in January from December’s 31-month low of 44.2.
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Brazil: Consumer sentiment deteriorates in January
January 25, 2023
The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) fell to 85.8 in January from December's 88.0.
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Brazil: Economic activity drops again in November
January 13, 2023
Economic activity dropped 0.6% month on month in seasonally adjusted terms in November, which was a deterioration from October’s 0.3% decline.
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Brazil: Retail sales fall at sharpest pace since June in November
January 11, 2023
Retail sales dropped 0.6% month on month in seasonally-adjusted terms in November (October: +0.3% mom).
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Brazil: Inflation continues softening in December
January 10, 2023
Inflation dropped for a sixth consecutive month in December; it came in at 5.8%, marginally below November’s 5.9%.
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