Clipping of news on Brazilian Culture, Law and Citizenship
11/30/2016
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It is the seventh consecutive drop in this comparison, according to IBGE.
From January to September, retreat is 4%, the highest since
The G1 in São Paulo and Rio
GDP - quarterly variation (Photo: G1)
Comparison with the previous year
In comparison with the third quarter of last year, the contraction was even higher, of 2.9% - the tenth followed.
On the basis of this comparison, agricultural production fell by 6%, influenced by negative results from crops such as maize (-25.5%), cotton (-16.9%), orange (-4.7%) and sugarcane Sugar (-2%).
PIB art composition-valley (Photo: Art / G1)
Following the same pace, the industry fell by 2.9%, mainly due to the decrease in the production of machinery and equipment.
Among the three sectors, services fell more softly: 2.2%. The most important negative highlights were transportation, warehousing and mail (-7.4%).
In comparison with the same quarter of 2015, household consumption fell by 3.4%, influenced by inflation, interest, credit, employment and income indicators, according to IBGE. Government consumption expenditure also fell: 0.8% from the third quarter of 2015.
Investments also took a big tumble. Gross fixed capital formation fell 8.4% in the third quarter of 2016, the 10th consecutive. "This decline is justified by the fall in imports and domestic production of capital goods, and is further influenced by the negative performance of the construction."
In the external sector, exports increased by 0.2% and imports fell by 6.8%. In both types of operation, the results were influenced by the appreciation of 8.5% of the exchange rate.
Negative forecasts
Expectations about the GDP result already indicated that the numbers would be negative. The Central Bank's Economic Activity Index (IBC-Br), which tries to "anticipate" the GDP result, estimated in mid-November that the economy shrank 0.79% from July to September, compared to Previous quarter.
For the year 2016, considering all quarters, financial market economists expect the level of activity this year to close by 3.5%, according to the Focus bulletin, also the latest BC.
If predictions are confirmed, this will be the first time that the country will record two consecutive years of contraction in the level of activity of the economy - the official historical series, IBGE, begins in 1948. Last year, the retreat was 3, 8%, the highest in 25 years.
Source: G1
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This article was translated by an automatic translation system, and was therefore not reviewed by people.