Brazil GDP Growth Eases To 0.1% In Q3

(RTTNews) - The Brazilian economic growth moderated more-than-expected in the third quarter, according to figures released on Thursday by the Brazilian Institute of Geography and Statistics, or IBGE.

Gross domestic product advanced 0.1 percent sequentially in the September quarter, slower than the 0.3 percent growth in the June quarter. Economists had expected an expansion of 0.2 percent.

On the production side, the best contribution came from the industrial sector, which grew 0.8 percent. This was followed by agriculture with a 0.4 percent growth. Meanwhile, the service sector grew only by 0.1 percent.

The expenditure breakdown showed that household consumption rose 0.1 percent, and government consumption increased by 1.3 percent. Data showed that gross fixed capital formation rose 0.9 percent.

Both exports and imports rose by 3.3 percent and 0.3 percent, respectively, resulting in a favorable external demand.

On a yearly basis, GDP growth moderated to 1.8 percent from 2.4 percent in the second quarter. The expected growth was 1.7 percent.