São Paulo – Declining exports of goods and services were a major factor in Brazil’s low economic growth rates in the first quarter this year. Said decline, coupled with low investment volumes, both of which were caused by the international crisis, had an impact on growth, according to Serasa Experian economists. Serasa Experian, a financial information company, issued its quarterly economic activity indicator this Monday (28th).
The index shows a 0.5% pickup in economic activity in March compared with February this year, seasonal adjustments included. There was a 1.7% increase compared with the same month of 2011. Activity was up 2% in the first quarter this year compared with the same period of last year, and 0.8% compared with the last quarter of 2011. According to Serasa Experian, growth rates have been lower than 1% since the first quarter of 2011.
Investment in the first quarter was down 4.1% compared with the last quarter of last year. Exports were down 1.5% and imports were up 0.7%. Only in the first quarter did economic activity grow by a lower rate, according to Serasa Experian, because family and government consumption grew by 1.6% and 1.1%, respectively, compared with the last quarter of 2011.
According to the company, the international crisis scenario also had a negative impact on industry, which suffered stronger consequences than did the services sector, for instance. As a matter of fact, industry activity improved in February and March, but poor performance in January caused a 0.5% drop in quarter one compared with the last quarter of 2011. Agricultural activity was down 0.4% using the same basis of comparison, and activity in services picked up by 1.2%.
*Translated by Gabriel Pomerancblum
