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LatinNews Regional Monitor: Brazil & Southern Cone - 03 December 2018

In brief: Brazil

* Brazil’s national statistics institute (IBGE) has released third quarter economic growth, which show that seasonally-adjusted GDP grew 0.8% quarter-on-quarter in July-September 2018. This is the best quarterly result since January-March 2017 and confirms Brazil’s slow economic recovery, driven by internal consumption. The agricultural sector grew by 0.7%, while the industrial and services sector posted 0.4% and 0.5% growth respectively. According to the IBGE coordinator of national accounts, Rebeca Palis, the services sector drove third quarter growth, despite posting lower growth than the agricultural sector, as it carries more weight in the economy overall. GDP for the third quarter grew 1.3% year-on-year and totals an accumulated 1.1% for the first three quarters of 2018.

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