Latin America’s largest economy has been outperforming forecasts since the beginning of the year. In Q2 2022, Brazil’s GDP grew by 1.2 percent — exceeding analysts’ 0.9-percent prediction.
The positive numbers are the result of a combination of extraordinary factors that heated up the economy, including government aid measures, commodity price shocks, and high savings levels driven by the pandemic.
Brazil’s official statistics agency IBGE also revised Q1 GDP growth from 1 to 1.1 percent. In total, gross domestic product reached BRL 2.4 trillion (USD 461 billion), against BRL 2.2 trillion in Q1, in current values.
The latest GDP reading...