The Brazilian economy recorded growth of 1.2% in the second quarter of 2022 compared to the first three months of the year, informed the IBGE (Brazilian Institute of Geography and Statistics) this Thursday (1st). The result for the quarter is the fourth positive in a row after the 0.3% decline from April to June last year. Compared to the same period last year, the increase was 3.2%.
The result came above the median of market expectations, which pointed to an increase of 0.9% in the monthly comparison and 2.8% in the annual comparison.
As a result, GDP is up 2.5% in the first half of the year and is 3% above the pre-pandemic level, recorded in the fourth quarter of 2019. In addition, the economy’s performance reaches the second highest level in the year. series, second only to that achieved in the first quarter of 2014, the institute said.
The GDP, which is the sum of final goods and services produced in Brazil, reached R$ 2.404 trillion in current values.
By segments, the industrial sector had strong growth of 2.2%, services, which are reopening and consolidated reopening now in the second quarter, had a high of 1.3%. There was also strong investment data, measured by gross fixed capital formation, up 4.8%. Household consumption, on the other hand, rose 2.6% and government consumption fell 0.9%.
*In update
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
