Brazil’s GDP Grew 0.4 Percent in the Second Quarter

RIO DE JANEIRO, BRAZIL – Brazil’s Gross Domestic Product (GDP) grew 0.4 percent in the second quarter of 2019, compared to the previous quarter. The result was mainly driven by gains in industry (0.7 percent) and services (0.3 percent).

Agriculture and ranching fell 0.4 percent. Compared to the second quarter of 2018, the increase was 1.0 percent. The information, which is part of the Quarterly National Accounts System, was released today by the IBGE.

In current values, GDP totaled R$1.78 trillion (US$445 billion). Compared to the first quarter, growth in the industry was influenced by the expansion of the transformation (2.0 percent) and construction (1.9 percent) industries. Extractive industries, on the other hand, registered a drop (-3.8 percent) in the period.

“Together, the transformation and construction industries account for about 70 percent of the sector,” explains Claudia Dionísio, IBGE’s National Accounts Manager.