New GDP growth projection shows an increase, according to IBRE

The special edition of IBRE's Macro Bulletin - produced by the Brazilian Institute of Economics (FGV/IBRE), shows a slight increase in the estimated Gross Domestic Product (GDP) for the third quarter, from -0.4% (qoq) to -0.3% (qoq).
Institutional
29 November 2013

The special edition of IBRE's Macro Bulletin - produced by the Brazilian Institute of Economics (FGV/IBRE), shows a slight increase in the estimated Gross Domestic Product (GDP) for the third quarter, from -0.4% (qoq) to -0.3% (qoq).The main revisions are in Agriculture, Mineral Extraction Transportation, Other Services and Information Services. Even with the high growth of Gross Fixed Capital Formation (FBCF, on the acquisition of capital goods by businesses) compared to the previous year (9.0%), there is a strong slowdown in the indicator in seasonally adjusted terms, highlights the document produced by the researchers Vinícius Botelho and Silvia Matos.The mining industry is the positive highlight of the third quarter, with an expected growth of 1.6% qoq. However, the result indicates a recovery, and not an increase, since the activity is still recovering from the adverse shock of the first quarter this year.Furthermore, the result of imports and exports shows an increase in the external deficit, and the numbers indicate a negative change in inventories this quarter.Visit IBRE's website and download the special edition of IBRE's Macro Bulletin (in Portuguese).*QOQ (Quarter on Quarter) and YOY (Year over Year)

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