GDP growth of 1.6% in the quarter ended in August

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The Brazilian Gross Domestic Product (GDP), which is the sum of all goods and services produced in the country, grew by 1.6% in the quarter ended in August this year, compared to the quarter ended in May. The data is from the GDP Monitor, measured by the Getulio Vargas Foundation (FGV). In comparison with the quarter ending August 2017, growth was 1.9%, according to the FGV. Considering August alone, there were increases of 0.2% in comparison with July of this year and of 1.9% in relation to August of last year. The increase of 1.6% in the quarter closed in August compared to May was accompanied by three large productive sectors: services (1.1%), industry (2%) and agriculture (2.5%).
Industry segments saw expansion in the manufacturing industry (3.1%) and construction (1.2%). The electricity sector remained stable and mining and quarrying declined by 1.2%. Among the services, all segments were registered, with emphasis on transport (5.4%) and commerce (2.9%). From the standpoint of demand, there were increases of 1.2% in household consumption, 1.1% in gross fixed capital formation (investments) and 0.6% in government consumption. In the external sector, exports grew by 1.3% and imports by 3.7%.

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