Rio de Janeiro – Brazilian Gross Domestic Product (GDP) was down 0.1% in the first quarter compared to last year fourth quarter. Data is from GDP Monitor of Fundação Getulio Vargas (FGV) published this Friday (17).
Year-on-year, however, there was a 0.5% increase. Considering only March, there was 0.4% drop over February this year and 1.7% drop over March 2018. In the 12 months through March, GDP climbed 0.9%.
From the last quarter of last year to the first quarter this year, the drop was driven mainly by industry (-0.8%). Agriculture was down 0.3% and services posted a 0.2% growth.
Translated by Guilherme Miranda