Brazil GDP


Growth remains subdued at the beginning of 2012

In the first quarter, GDP increased 0.2% over the previous quarter in seasonally adjusted terms, which mirrored the result observed in the fourth quarter (previously reported: +0.3% quarter-on-quarter) but came in below market expectations of a 0.5% rise. Compared to the same quarter last year, the economy added 0.8%, down from the 1.4% increase tallied in the fourth quarter and below market expectations of a 1.3% rise. The first quarter figure mainly benefited from higher government spending, which rose 1.5%, tripling the 0.5% increase recorded in the fourth quarter. Private consumption growth remained unchanged at fourth quarter


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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.

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