Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) declined by 0.6% in Q2 from Q1 2014, to R$ 1.27 trillion (US$ 564.3 billion), as per results released by the Brazilian Institute of Geography and Statistics (IBGE) this Friday (29th). In Q1, the Brazilian economy contracted by 0.2%. Data regarding Q1 2014 has been revised; previously, the data showed an increase of 0.2%.
Q2-on-Q2, the GDP contracted by 0.9%, with agriculture flattening out, industry down 3.4% and services up 0.2%.
Q2-on-Q1, agriculture had the best result, up 0.2%. GDP was down 1.5% for industry and down 0.5% for services.
The only sector of industry to post growth was mining, up 3.2%. Sectors with the sharpest rates of decline included the processing industry (-2.4%), civil construction (-2.9%) and electricity and gas, water, sewage and urban cleaning (-1%).
The decline in services sector GDP was driven by trade (-2.2%) and “other services” (-0.8%). Information services had the best result, up 1.1%. The GDP in real estate and property rental also increased, by 0.6%.
In the twelve-month period leading up to June, the Brazilian GDP was up 1.4%.
*Translated by Rodrigo Mendonça
