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
Growth remains subdued at the beginning of 2012
June 1, 2012
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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.
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.