* Brazil’s national statistics institute (Ibge) has released the GDP growth figures for the third quarter of 2023, showing a yearly growth rate of 2.0% and quarterly rate of 0.1%. This is the third consecutive quarter that GDP has grown but marks a much slower growth rate compared to the 1.4% quarterly growth registered in Q1 and the 1.0% registered in Q2 this year. The industrial and services sectors both registered a quarterly growth rate of 0.6%. However, the agricultural sector registered a quarterly contraction of 3.3%. In a press release, the Ibge noted that agricultural production in the first half of the year registered strong figures due to a record soya harvest, and it would be unsurprising if the second half of the year did not reach the same levels of production.
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LatinNews Daily - 06 December 2023
In brief: Brazil’s quarterly GDP growth slows in Q3
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