Brazil GDP up 1.6% June–August

Brazil’s gross domestic product saw a 1.6 percent growth in the three-month period ending in August this year compared to the quarter ending in May. The figure was released by think tank Getulio Vargas Foundation (FGV).

Compared to the quarter ending in August 2018, the increase stood at 1.9 percent, also according to FGV. Considering August alone, a 0.2 percent expansion was reported against July this year, and 1.9 percent from August last year.

The 1.6 percent surge in the quarter finished in August from May was driven by the three big productive sectors: services (1.1 percent), industry (2 percent), and agriculture and livestock (2.5 percent).

Under a demand-oriented perspective, families’ consumption rose 1.2 percent, the formation of gross fixed capital (investment) saw a 1.1 percent rise, and government consumption was reported to grow 0.6 percent.