Brazil GDP Growth Strongest in 3 Years


The Brazilian economy expanded 1.4 percent year-on-year in the third quarter of 2017, following an upwardly revised 0.4 percent rise in the previous quarter and better than forecasts of 1.3 percent. It is the fastest growth rate since the first quarter of 2014, boosted by a jump in household spending and exports.

Household spending surged 2.2 percent, after a 0.6 percent rise in the previous period, hitting the highest growth rate since the last three months of 2014. On the other hand, public expenditure (-0.6 percent compared to -0.8 percent) and investment (-0.5 percent compared to -6.7 percent) continued to fall although at a slower pace. Exports jumped 7.6 percent (2.5 percent in Q2) and imports recovered (5.7 percent compared to -3.2 percent). 

On the production side, both services (1 percent compared to -0.2 percent) and industry (0.4 percent compared to -1.9 percent) rebounded while agriculture slowed (9.1 percent compared to 14.8 percent).

On a quarterly basis, the economy advanced a meager 0.1 percent, following an upwardly revised 0.7 percent growth in the previous period and below market expectations of 0.3 percent. Still, it was the third consecutive expansion after 2 year long recession.

Brazil GDP Growth Strongest in 3 Years


IBGE | Joana Taborda | joana.taborda@tradingeconomics.com
12/1/2017 12:37:34 PM