Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) was up 1.6% in the three months through August from the three months through May, as per think tank Fundação Getulio Vargas (FGV)’s GDP Monitor. Official GDP numbers in Brazil are released by another organization – the Brazilian Institute of Geography and Statistics (IBGE).
In the three months through August from a year ago, GDP climbed 1.9% according to FGV. In August alone, GDP was up 0.2% from July and 1.9% from August 2017.
The 1.6% hike through August over the three months through May was driven by services, up 1.1%, industry, up 2%, and agriculture, up 2.5%.
On the demand side, household consumption picked up by 1.2%m with gross fixed capital formation (investments) going up 1.1% and government consumption climbing 0.6%. Exports were up 1.3% and imports grew by 3.7%.
Translated by Gabriel Pomerancblum
