Brazilian economy up 0.1% in third quarter

Brazil's gross domestic product (GDP) grew 0.1% in the third quarter of 2014 from the previous period, adding up to $514.66 billion. Figures were released today (Nov 28) by the Brazilian Geography and Statistics Institute (IBGE).

Compared to the same quarter last year, the Brazilian economy contracted 0.2%. In the year, the GDP accumulates a 0.2% increase. As for the 12-month period, the accumulated growth rate is reported at 0.7%.

In the comparison between the third and the second quarters this year, among the country's productive sectors, the most significant expansion was observed in industry: 1.7%. Services also experienced a surge (0.5%), but agriculture is down 1.9%.

As for demand, a growth of 0.1% was prompted by investments and the government consumption expenditures, both up 1.3%. Consumption among families dropped by 0.3%

In the foreign sector, exports showed a more considerable increase (1%) than imports (2.4%).

Translated by Fabrício Ferreira