According to FGV’s GDP Monitor, the Brazilian economy increased by 1.1% in the second quarter of 2024 over the previous one. In current figures, the GDP came out to be BRL 5.437 trillion. Compared to the same period in 2023, growth was 2.9%, driven by increases in household consumption of 5.3%, investments of 7.3%, and exports of 6.4%. However, imports increased by 16.3%, which would distort the GDP calculation. The 12-month cumulative rate is 2.3%. These figures provide a preview of the official GDP, to be issued by the IBGE on September 3.
Source: Agência Brasil (*Translated by Ia Niani)
BRAZILIAN ECONOMY RECORDS 1.1% GROWTH IN Q2 2024, ACCORDING TO FGV
Published On - 22 de August de 2024