Economy

Brazil’s GDP up 1.2% in quarter ending in October

The growth was pulled by industry and services

Vitor Abdala

Published on 19/12/2018 - 14:40

Rio de Janeiro

Ortigueira (PR) - O presidente interino Michel Temer participa de inauguração da nova fábrica de celulose da empresa Klabin, em Ortigueira, no interior do Paraná (Isac Nóbrega/PR) — © Isac Nóbrega/PR

Ortigueira (PR) - O presidente interino Michel Temer participa de inauguração da nova fábrica de celulose da empresa Klabin. A indústria fica em Ortigueira, no interior do Paraná (Isac Nóbrega/PR) — © Isac Nóbrega/PR

Brazil’s gross domestic product (GDP) grew 1.2 percent in the quarter ending in October this year, compared to the quarter finished in July. The increase was driven by highs of 1.4 percent in industry, and 1.2 percent in services. Agriculture and livestock was the only one among the bulky sectors with a drop—0.5 percent.

Figures were released today (Dec. 19) by the Getulio Vargas Foundation (FGV).

Considering October alone, the GDP was down 0.3 percent from September, and up 1.7 percent against October last year. Compared to the quarter ending in October 2017, the increase reached 1.3 percent.

Under the demand perspective, the expansion from July to October was pulled by investment, which grew four percent in the period. Also reported were highs of 1.1 percent in families’ consumption and 0.9 percent in the government’s consumption. Exports went up 6.7 percent, and imports 1.7 percent.