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Financial News: BRAZIL: GDP Growth May Seem Low, But Is

BRAZIL: GDP Growth May Seem Low, But Is Strong In Some Sectors - Minister

12/03/2017 - 09:19:00 (RTTNews)

(RTTNews) - The 0.1% growth in the Brazilian economy during the third quarter may seem low, but it is strong when analyzed on a sectoral level, said the country's Minister of Finance, Henrique Meirelles, in his Twitter account.

According to the minister, the global Gross Domestic Product (GDP) result was pushed down by the poor performance in the agricultural sectors - but excluding that impact, the GDP would have grown 1.1%.

Meirelles also said that in the year to September, GDP growth is 0.6%, "a number that already exceeds the economists' initial forecast for 2017. That shows that Brazil is on a growth path."

He also pointed out that the industry performance in the quarter rose 0.8% and manufacturing companies recorded a 1.4% increase. Investment also grew (+1.6%), in the first advance after 15 decreases in a row.

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