Brazil’s gross domestic product (GDP) is up by 0.6 percent over Q3 2019 when compared to the previous quarter. The result was slightly better than most forecasts and it confirms that the Brazilian economy continues to grow, albeit at a slow pace.
As we anticipated in today’s Daily Briefing, the rise was driven by the private sector, with government spending down by 0.4 percent amid Jair Bolsonaro’s administration’s focus on cutting the primary federal deficit.
Highlights of Brazil’s GDP figures
- Services: +0.4 percent (notable performances from commerce and IT & communication sectors, each registering a 1.1-percent bump);
- Industry: +0.8 percent (the highest growth rate since Q4 2017, mainly driven by 12-percent growth of extractive industries, compensating for a 1-percent drop in transformation industries);
- Agribusiness: +1.3 percent;
- Family consumption: +0.8 percent
- Government-driven consumption:...
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