The FGV GDP Monitor, released by FGV’s Brazilian Institute of Economics (FGV IBRE), shows a growth of 0.1% in economic activity in April, compared to March, and a decrease of 0.4% in the quarter ended in April, compared to the quarter ended in January. Both rates were calculated in the series without seasonal adjustment. In the year-over-year comparison, economic activity grew by 2.9% in April and 1.3% in the last moving quarter.

“In April, the economy resumed its trajectory with a sharp growth of 2.9% compared to April 2017, which virtually spread to the entire economic activity. However, this result was heavily influenced by the three additional business days in this year’s month of April, compared to April 2017. The result in the margin, despite not considering the additional business days, shows a growth of 0.1% in economic activity, revealing a certain stagnation”, said Claudio Considera, Coordinator of the FGV-GDP Monitor.

In the year-over-year quarterly comparison, industry (2.7%) and services (1.8%) had the highest rates in the year, while agriculture recorded a negative variation in the moving quarter ended in April (-3.6%). From a perspective of demand, all components recorded positive results, particularly household consumption (3.0%) and gross fixed capital formation (5.7%).

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