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The
National Statistical Institute (IBGE,
Instituto Brasileiro de Geografia e Estatística) reports:
The
Gross Domestic Product (GDP) grew 2.4% in real terms in the
third quarter of the current year compared with the same period last year.
The third quarter figure represented a healthy improvement in economic
activity over the second quarter, when growth reached just 1.0%.
According to seasonally adjusted data, the Brazilian GDP increased by 0.9% over
the second quarter this year.
The
agricultural sector grew at an annual rate of 7.2%, up from the 6.6%
annual rate registered in the second quarter, while industry and services
grew at a more moderate 3.0% and 1.8% pace respectively.
Within the industrial sector, mining activities experienced the strongest
growth with a 10.8% expansion, while manufacturing activities accelerated
further from modest growth in the second quarter (+0.8% yoy) to a 2.6%
expansion over the same quarter last year. Meanwhile, the
construction industry remained in negative territory, contracting 0.9% over the same period last year, after
2.5% annual growth registered in the second quarter.
GDP by
Sector, Q3 2002
Note: Change over same quarter
last year.
Source: Instituto Brasileiro de Geografia e
Estatística (IBGE) and LatinFocus calculations.
Within the services sector,
public utilities services experienced the strongest expansion of 9.8%, up
from the 2.3% contraction in the previous quarter. The
communications sector grew 6.8% over the second quarter last year
(Q2: +6.0% yoy), while activities in the financial services sector
expanded 4.1%.
More detailed information
available at the
Instituto Brasileiro de Geografia e
Estatística (IBGE).
Forecasts: This indicator is covered in the
LatinFocus Consensus Forecast. For 5-year projections, including quarterly forecasts for
the next two years, please click here
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