GDP in the Second Quarter

BRAZIL ECONOMICS - Report 02 Sep 2013 by Marcelo Gazzano, Cristina Pinotti and Affonso Pastore
Brazil’s GDP growth in the second quarter exceeded all projections. At 1.5% (6.0% in annual terms – Graph 1), it was the strongest since the first quarter of 2010, changing the growth estimates for 2013. Among the various surprising results is the growth in the service sector, about which there is insufficient information to permit more than rough estimates. But care should be taken not to be overly optimistic, because there are clear indications that this strong growth pace will not continue in the third quarter. With the second-quarter result, it now appears that GDP growth in 2013 will l...

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