GDP down 1.7% in third quarter
The Gross Domestic Product (GDP) closed the third quarter down 1.7% from the previous quarter. The information was released today (Dec. 1st) by the Brazilian Institute of Geography and Statistics (IBGE), suggesting this has been the largest GDP decline for the third quarter since the time series began in 1996.
Compared to the same period last year, the decrease was 4.5%, whereas the cumulative decrease for the past four quarters was 2.5%. Since the beginning of the year, GDP has fallen 3.2%.
In the sector breakdown, agriculture was down 2.4% in the third quarter, industry saw a 1.3% decline, and services contracted 1%.
Also according to the IBGE report, household consumption was down 1.5%, whereas government consumption fell 0.3%.
Translated by Mayra Borges
Fonte: GDP down 1.7% in third quarter
