{"id":373388,"date":"2024-09-03T11:08:03","date_gmt":"2024-09-03T14:08:03","guid":{"rendered":"https:\/\/anba.com.br\/?p=373388"},"modified":"2024-09-03T11:08:09","modified_gmt":"2024-09-03T14:08:09","slug":"brazils-gdp-surges-3-3-in-second-quarter","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazils-gdp-surges-3-3-in-second-quarter\/","title":{"rendered":"Brazil\u2019s GDP surges 3.3% in second quarter"},"content":{"rendered":"\n<p>S\u00e3o Paulo \u2013 Brazil&#8217;s gross domestic product (GDP) grew 3.3% in the second quarter of this year compared to the same period in 2023 and 1.4% compared to the first quarter of 2024, statistics agency <a href=\"https:\/\/www.ibge.gov.br\/\" target=\"_blank\" rel=\"noopener\">IBGE <\/a>said.<\/p>\n\n\n\n<p>Compared to the same period last year, there was a 3.5% growth in the services sector, a 3.9% increase in industry, but a 2.9% decline in agriculture. Compared to the first three months of this year, the services sector grew 1%, industry 1.8%, and agriculture fell by 2.3%. In current values, the GDP totaled BRL 2.9 trillion [USD 516.6 billion] in the second quarter.<\/p>\n\n\n\n<p>\u201cWith the decline in agriculture\u2019s leading role, industry stood out this quarter, particularly in electricity and gas, water supply, sewage, waste management activities, and construction,\u201d said Rebeca Palis, IBGE\u2019s National Accounts Coordinator.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>GDP: Positive factors<\/strong><\/h2>\n\n\n\n<p>Factors contributing to the strong performance of the Brazilian economy include labor market conditions, lower interest rates, availability of credit, investments (with growth in capital good imports and production), and the performance of the construction and software development sectors. In agriculture, adverse weather conditions affected the production of soybeans and corn, despite good results in livestock and crops such as coffee and cotton.<\/p>\n\n\n\n<p>The GDP for the four-quarter leading to March 2024 grew 2.5% compared to the same period in 2023. There were increases in industry (2.6%) and services (2.6%), with stability in agriculture.<\/p>\n\n\n\n<p><em>Read more:<\/em><br><a href=\"https:\/\/anba.com.br\/en\/brazils-gdp-up-2-9-in-2023-but-stagnates-in-q4\/\">Brazil\u2019s GDP up 2.9% in 2023 but stagnates in Q4<\/a><\/p>\n\n\n\n<p><strong>Translated by Guilherme Miranda<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-373385\">Archive\/CNI<\/div>","protected":false},"excerpt":{"rendered":"<p>Brazilian economy grew 3.3% year on year in the second quarter and 1.4% compared to the first quarter. Services and industry sectors led growth in both comparisons.<\/p>\n","protected":false},"author":2316,"featured_media":373385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[10274,9534,10545,9756,9590,2870],"class_list":{"0":"post-373388","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-agriculture-en","9":"tag-brazil-en","10":"tag-economy-en","11":"tag-gdp-en","12":"tag-industry-en","13":"tag-services"},"wps_subtitle":"Brazilian economy grew 3.3% year on year in the second quarter and 1.4% compared to the first quarter. Services and industry sectors led growth in both comparisons.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/373388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=373388"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/373388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/373385"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=373388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=373388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=373388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}