Brazil’s GDP grew by 0.4% in the 3rd quarter compared to the immediately previous three months.
It is the 5th consecutive quarter of high economic growth in the country.
The IBGE released the data this Thursday (Dec. 01). As a result, Brazilian GDP has reached the highest level in the historical series, which started in 1996.
In addition to reaching the highest level in the series, GDP was 4.5% above the pre-pandemic level recorded in the 4th quarter of 2019.
Compared to the same quarter of 2021, GDP grew by 3.6%.
Accumulated in the four quarters ending in September, economic activity grew by 3% compared to the immediately previous four quarters.
The accumulated for the year was 3.2% compared to the same period in 2021.
In current values, GDP in the third quarter of 2022 totaled R$2.544 trillion.
By offer, the highlight was the Services sector, which advanced by 1.1%. Industry, on the other hand, grew by 0.8%, and Agriculture and Livestock decreased by 0.9%.
On the expenditure side, Gross Fixed Capital Formation (productive investments in the economy) rose 2.8% in relation to the previous quarter. Household consumption rose by 1%, and government consumption expenditure grew by 1.3%.