Brazilian economy grew 1.9% in the second quarter, says Statistics Institute
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Growth interrupts the two consecutive months of decline in GDP and sets out the technical recession.
The Brazilian economy grew 1.9% in the second quarter of this year compared to the first quarter. The result of the Gross Domestic Product (GDP) released on Friday (11) by the Brazilian Institute of Geography and Statistics (IBGE) confirms that Brazil went from technical recession. GDP is the production of goods and services in the country in the second quarter of 2008, however, Brazil's GDP fell 1.2%. In the first half of 2009, GDP fell 1.5% over the same period of 2008.
By sectors, the industry's GDP expanded by 2.1% between April and June 2009 over the previous quarter. On the same basis of comparison, the agricultural GDP fell by 0.1% and GDP of the services sector grew by 1.2%
GDP growth in the second quarter of this year shows that the country has left the period of technical recession, the table set with a drop of 1.0% (revised) of GDP in the first quarter after already embittered a decrease of 3.4 % (revised) for the period October to December 2008. Statistically, it sets a framework for a technical recession in an economy when it has negative growth for two consecutive quarters.
As regards the comparison with the same period last year, the fall in GDP, according to economists surveyed by the State Agency, is tied to the strong base of comparison last year. In the second quarter of 2008, GDP had grown 1.60% over the first quarter and 6.20% over the same period of 2007
The most acute of the international crisis that has infected the real economy from the loss of confidence in the banking sector at the cost of credit to the productive sector, took place from September 15, 2008, to break the bank U.S. investment Lehman Brothers. So much so, in the third quarter of last year, the economy grew 1.80% over the previous quarter and 6.80% on the year. The effects of the crisis were present only in the same quarter of last year and the first this year
Although GDP can give in the second quarter of this year, signs that have left the technical recession, its possible expansion does not generate excitement because of the conditions in which growth is possible. The planned expansion is also founded upon the fiscal stimulus the government, which left little leeway for analysts to suspect that, were it not for government aid, the economy had not yet able to walk by themselves.
Source: State Agency
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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