Brazil’s gross domestic product (GDP) increased by 1.9% in the first quarter of 2023 compared with the previous quarter, in the seasonally adjusted series, according to data from the Brazilian Institute of Geography and Statistics (IBGE) on Thursday. ). Compared to the same quarter of 2022, GDP grew by 4.0%. The data has passed […]
Brazil’s gross domestic product (GDP) increased by 1.9% in the first quarter of 2023 compared with the previous quarter, in the seasonally adjusted series, according to data from the Brazilian Institute of Geography and Statistics (IBGE) on Thursday. ). Compared to the same quarter of 2022, GDP grew by 4.0%.
The data exceeded market expectations, which forecasted growth of 1.3% on a quarterly comparison and an increase of 3.0% on an annual comparison.
In the cumulative result of the last four quarters, GDP grew by 3.3% compared to the immediately preceding four quarters. In current values, the GDP of the first quarter of 2023 is equal to 2.6 trillion reais, of which 2.2 trillion reais refer to value added (VA) at base prices and 317.1 billion reais to taxes on products net of subsidies .
The investment rate was 17.7% of GDP in the first quarter of this year, lower than that observed in the same period of 2022 (18.4%).
In industry, the positive performances came from the Extractive Industries (2.3%) and from the Electricity and Gas, Water, Sewage, Environment activities (1.7%). According to the IBGE, there was a decrease in Construction (-0.8%) and Processing Industries (-0.6%).
For services, the Warehousing and mail groups (1.2%), Financial intermediation and insurance (1.2%) and Administration, health and public education (0.5%) grew, while there was a drop in Information and communication (- 1.4%) and in Other services (-0.5%), states the institute.
Source: Terra
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