O Gross Domestic Product Brazil grew less than previously estimated in 2019, largely due to new data on the economic impact of the collapse of the Brumadinho dam in Minas Gerais, reported the Brazilian Institute of Geography and Statistics this Friday (5).
According to IBGE, the GDP expansion in 2019 was 1.2%, compared to 1.4% previously reported. the fall of Industry mineral extraction was adjusted to 9.1%, compared to a decrease of 0.9% estimated before.
Despite the revision, this was the third consecutive increase in GDP, after rates of 1.8% in 2018 and 1.3% in 2017. However, this was insufficient to reverse the accumulated drop in 2015 and 2016, from 6. 7%.
In 2019, the sector of services, which accounts for two-thirds of the Brazilian economy, grew 1.5%, accounting for 1.1 percentage point of the result of gross value added.
Reference: CNN Brasil
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