BRAZIL Q1 2012 GDP UP 0.2 PERCENT OVER Q4 2011
Finance Ministry says Brazilian Government's adoption of impactful economic measures to accelerate growth in second half of 2012
Category: Investment, Brazil
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News about Brazilian State
BRASILIA - June 1, 2012 (InvestorIdeas.com Newswire) The Federative Republic of Brazil announced today that its 2012 first quarter Gross Domestic Product (GDP) rose 0.2 percent over the fourth quarter of 2011 in the seasonally adjusted series (0.8 percent in annualized rates), according to data released by the Brazilian Institute of Geography and Statistics (IBGE). National production of goods and services amounted to R$ 1.033 trillion (approximately US$ 585 billion, using the Q1 2012 average exchange rate).
The economic growth is a result of a 1.7 percent growth in the industry sector compared to the fourth quarter of 2011. The services sector showed a 0.6 percent increase, and the agriculture sector showed a 7.3 percent decrease.
Brazil reported a 1.0 percent increase in household consumption compared to the last quarter of 2011. Government consumption increased by 1.5 percent in the first quarter of 2012 over the fourth quarter of 2011. A contraction of 1.8 percent in gross fixed capital formation was registered. The investment rate for the first quarter was 18.7 percent of the GDP.
"The first quarter results reflect the impact of the global crisis on the Brazilian economy in the first months of the year and problems with the harvest of some agricultural products, such as soybean as well as weather conditions that jeopardized iron production. Updated economic indicators point to an ongoing recovery process” noted Finance Minister, Guido Mantega. “In the second half of 2012, the annualized growth rate will be between 4.0 and 4.5 percent as a result of the measures adopted by the Brazilian government over the last year, whose effects will be fully impacting the Brazilian economy”, said Minister Mantega.
1Q 2012 Quarter-on-Quarter Performance
Brazil's economy recorded a 0.8 percent increase for the first quarter of 2012 compared to the first quarter of 2011. The services sector recorded a 1.6 percent increase, followed by the industrial sector (0.1 percent increase). The agriculture sector showed a 8.5 percent decrease.
Also over this time period, Brazil reported a 2.5 percent growth in household consumption, 3.4 percent increase in government consumption, and a contraction of 2.1 percent in gross fixed capital formation.
The accumulated GDP for the four quarters ending in the first quarter of 2012 grew 1.9 percent against the previous four quarters. Over this period, the GDP report showed 2.1 percent growth in the services sector, followed by the agriculture sector, with 0.8 percent growth, and the industry sector, with 0.7 growth.
During this period, household consumption increased by 3.2 percent, gross fixed capital formation increased by 2.1 percent and government consumption increased by 2.3 percent.
SUMMARY TABLE – Brazil's GDP results at market prices from Q1 2011 to Q1 2012
Source: Brazilian Institute of Geography and Statistics (IBGE)
The Brazilian Institute of Geography and Statistics (IBGE) is the independent and autonomous agency responsible for statistical, geographic, cartographic, geodetic and environmental information in Brazil.
The Secretariat for Social Communication (SECOM) of the Presidency of the Federative Republic of Brazil is responsible for coordinating the public relations activities for the government of Brazil. For more information on the Federative Republic of Brazil, please visit www.brasil.gov.br. The official social media accounts for the Brazilian State are on Facebook and Twitter at http://www.facebook.com/BrazilGovNews/ and twitter.com/BrazilGovNews.
This news is published on the Investorideas.com Newswire and its syndicated partner network
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