GDP in the Second Quarter of 2019

BRAZIL ECONOMICS - Report 02 Sep 2019 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

GDP grew by 0.4% (annualized rate of 1.8%) in the second quarter, reversing the contraction of 0.1% in the first quarter. The rise was higher than indicated by the behavior of the IBC-Br, and greater than the median projections reported by Bloomberg. The intensity and composition of this growth do not alter the perception that the recovery continues to be very weak. Since a significant risk exists of deceleration in the third quarter, we maintain our projection of 0.8% GPD growth in 2019.

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