LatinNews Daily - 06 June 2022

In brief: Brazil’s GDP grows in Q1

* Brazil’s national statistics institute (Ibge) has announced that GDP grew by 1.0% in Q1 2022 compared with the previous quarter. The agricultural sector contracted by 0.9% compared with Q4 2021, while the industrial sector remained stable with 0.1% growth and the services sector grew by 1.0%. In year-on-year terms, GDP grew by 1.7% in Q1. The latest figures came days after the president of Brazil’s central bank (BCB), Roberto Campos Neto, told congress on 31 May that GDP forecasts for 2022 are improving. Campos Neto said that financial experts surveyed for the BCB's Focus bulletin are now expecting GDP growth of 1.5%-2% this year, compared to the BCB’s forecast of 1.0% growth.

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