The Brazilian economy grew 0.6% in July from the previous month, according to the FGV (Getulio Vargas Foundation).
The GDP Monitor was released this Monday (Sep. 19).
Compared to June 2021, the indicator increased by 3.1%.
Research coordinator Juliana Trece explained that the growth in July reflects the positive development of the industrial and service sectors.
According to her, the 7 activities of the service sector increased compared to June.
“From a demand perspective, except for gross fixed capital formation, the trend was also positive in the other components,” she said.
“These data indicate that the economic performance in July was mainly due to consumption; a pattern that has been observed throughout the year,” she explained.
Household consumption increased 0.5% in July compared to June.
Compared to the same month in 2021, it rose 3.6%.
FGV said that the high is explained by the performance of durable goods consumption an
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