The GDP Monitor, calculated by FGV’s Brazilian Institute of Economics (IBRE), according to the seasonally adjusted series, signals growth of 0.3% of the Gross Domestic Product (GDP) in November, compared to October, and 0.6% in the mobile quarter ending in November, compared to the mobile quarter ending in August.

“In November, the economy continued to grow, reaching 0.8% in 12 months, leading us to believe that the growth forecasts of 1% for the year may be surpassed. Once again, the household consumption and gross fixed capital formation stand out in both the monthly year-to-year comparison (+4.2% and +4.9%, respectively), as well as the monthly November comparison to October, in the seasonally adjusted series (both with 0.5%),” said Claudio Considera, Coordinator of FGV’s GDP Monitor.

Farming’s contribution was fundamental to the positive performance of the accrued rate in 12 months up to November, considering that the rate for the industry was -0.1% and services grew only +0.1%.

From the point of view of the demand, the accrued rate in 12 months up to November of household consumption was positive in 0.7%; except for the consumption of services, all consumption categories showed positive rates in this comparison. Gross fixed capital formation still has a negative rate, in this same comparison (-2.1%), despite the strong growth of the machinery and equipment component (+6.6%).

FGV’s GDP Monitor makes monthly estimates of the Brazilian GDP in volume and value. The purpose of its creation was to provide society with a monthly GDP indicator, based on the same methodology of IBGE’s National Accounts. Its series starts in 2000 and incorporates all available information of IBGE’s National Accounts (Tables of Resources and Uses, until 2015, last year of publication), as well as the information of IBGE’s PIB-Tri, until the last quarter released (third quarter of 2017). The complete results are available on the website.