The Brazilian Institute of Geography and Statistics (IBGE) revised downwards the Gross Domestic Product growth in the second quarter of 2022 over the previous three months.
The expansion of activity in the period was 1%, the agency said this Thursday, after initially estimating growth at 1.2%.
The IBGE also revised the GDP for the first quarter, but in this case the increase was greater (1.3%) than the preliminary calculation (1.1%).
The Brazilian economy grew by 0.4% in the third quarter of 2022 compared to the immediately previous period. The result for the quarter is the fifth consecutive positive result after the 0.3% decrease from April to June last year.
Compared to the third quarter of 2021, the increase was 3.6%. With this result, GDP (Gross Domestic Product) reaches the highest level in the historical series, which started in 1996, and is 4.5% above the pre-pandemic level, recorded in the fourth quarter of 2019.
The result was slightly below the median of market expectations, which pointed to an increase of 0.7% in the monthly comparison and 3.7%, in the annual comparison, according to a Reuters survey.
In current values, GDP, the sum of final goods and services produced in the country, totaled R$ 2.544 trillion in the third quarter.
In the third quarter, the positive variation was influenced by the results of services (1.1%) and industry (0.8%), while Agriculture and Livestock decreased 0.9%, says the IBGE in a note.
*With CNN Brazil
Source: CNN Brasil
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