Brazils third quarter GDP growth of 0.6percent on month is still at the level of seven years ago

category:Finance
 Brazils third quarter GDP growth of 0.6percent on month is still at the level of seven years ago


In the third quarter of this year, the largest increase was in agriculture, with a 1.3% on month increase, followed by an 0.8% on month increase in industry and a 0.4% on month increase in services.

GDP growth is mainly driven by household consumption and private investment. Data show that in the third quarter of this year, household consumption rose 0.8% month on month. Investment rose by 2% on a month on month basis, with private sector investment growing significantly. However, government consumption fell 0.4% month on month.

In terms of foreign trade, in the third quarter of this year, Brazils exports fell 2.8% month on month, while its imports rose 2.9% month on month. Brazils Bureau of geography and statistics also revised some economic data on the same day, correcting the 0.1% decline in GDP in the first quarter of this year to zero growth and maintaining stability; the 0.4% increase in GDP in the second quarter of this year to 0.5% growth. Meanwhile, Brazils GDP growth in 2017 and 2018 was revised to 1.3% respectively. Experts believe that Brazils GDP growth will speed up from the end of this year to next year due to lower interest rates, effective inflation control and gradual recovery of the labor market. Financial markets expect Brazils GDP to grow 0.99% this year and 2.22% next year, according to the focus survey released by the Brazilian Central Bank on Tuesday. (end) source: First Financial Editor: Wang Xiaowu NF

In terms of foreign trade, in the third quarter of this year, Brazils exports fell 2.8% month on month, while its imports rose 2.9% month on month.

Brazils Bureau of geography and statistics also revised some economic data on the same day, correcting the 0.1% decline in GDP in the first quarter of this year to zero growth and maintaining stability; the 0.4% increase in GDP in the second quarter of this year to 0.5% growth. Meanwhile, Brazils GDP growth in 2017 and 2018 was revised to 1.3% respectively.

Experts believe that Brazils GDP growth will speed up from the end of this year to next year due to lower interest rates, effective inflation control and gradual recovery of the labor market.

Financial markets expect Brazils GDP to grow 0.99% this year and 2.22% next year, according to the focus survey released by the Brazilian Central Bank on Tuesday. (end)