Brazil’s gross domestic product shrank 0.1 percent on quarter in the three months to June 2021, ending three straight quarters of expansion and missing market expectations of 0.2 percent growth. The agriculture and industry sectors were the main drivers of the contraction, falling 2.8 percent and 0.2 percent, respectively. Among industrial activities, manufacturing production fell 2.2 percent and utilities output declined 0.9 percent. These falls were offset by a 5.3 percent increase in mining and quarrying and a 2.7 percent advance in construction. Meanwhile, services activity grew by 0.7 percent, mainly boosted by information and communication, other service activities, trade, real estate activities, and financial activities, insurance and related services. On the expenditure side, fixed investment fell sharply while household consumption was unchanged. On a yearly basis, the economy grew by 12.4 percent, the most on record but below expectations of 12.8 percent. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Growth Rate in Brazil averaged 0.55 percent from 1996 until 2021, reaching an all time high of 7.70 percent in the third quarter of 2020 and a record low of -9 percent in the second quarter of 2020. This page provides - Brazil GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
GDP Growth Rate in Brazil is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 0.90 percent in 2023, according to our econometric models.