Brazil GDP Up 1.3% in Q3 2009
2009 DEC 25 - (VerticalNews.com) -- The Brazilian government announced that the 2009 third quarter real gross domestic product -- the output of goods and services adjusted for inflation -- increased 1.3 percent from the second quarter of 2009, according to data released by the Brazilian Institute of Geography and Statistics (IBGE). These new figures mark a consolidation of Brazil's economic growth since it emerged from the global financial crisis in the second quarter of 2009.
"This performance of steady growth in the third quarter shows that Brazil has started a new cycle of economic expansion that will continue into 2010 and will be maintained for many years ahead," said Finance Minister Guido Mantega. "Based on positive trends in industry and investments, we expect the projected growth for 2010 -- currently around 5 percent -- to hold."
The increase in real GDP for the third quarter of 2009 in the seasonally adjusted series reflects a 2.9 percent increase in Brazilian industrial activity compared to the second quarter of 2009. Services registered an increase of 1.6 percent and agriculture a decrease of 2.5 percent over the same period.
Among the components of domestic demand, gross fixed capital formation grew 6.5 percent from the previous quarter. There was also an increase of 2.0 percent in household consumption and an increase of 0.5 percent in public administration consumption in the third quarter of 2009 compared to the second quarter of 2009.
To access the full press release in Portuguese, please visit the IBGE's website at http://www.ibge.gov.br/home/.
SUMMARY TABLE - Main results of GDP at market prices from Q3 2008 to Q3 2009
Keywords: Agricultural, Agriculture, Economic Growth, Economics, Finance, Financial, Gross Domestic Product, Investing, Investment, Secom.
This article was prepared by VerticalNews Economics editors from staff and other reports. Copyright 2009, VerticalNews Economics via VerticalNews.com.