Rio de Janeiro – The Brazilian economy grew 6% in the first half of 2008 compared with the same period last year. In comparison with the second quarter of 2007, the Gross Domestic Product (GDP) increased 6.1%.
The 6% expansion rate recorded in the first six months is the highest using that basis for comparison since 2004. During the period, industry grew 6.3%, the services sector, 5,3% and agriculture, 5.2%.
In terms of figures, the GDP in the second quarter reached 716.9 billion reals (US$ 408.6 billion), representing growth of 1.6% over the first quarter of the same year.
The figures were disclosed earlier today by the Brazilian Institute for Geography and Statistics (IBGE). Expansion of the GDP was driven by the agricultural sector, which grew 3.8% in the second half. Other highlights were services (1.3%) and industry (0.9%).
*Translated by Gabriel Pomerancblum
