Brazil economy up 9.7% in quarter ending in May
The growth was driven by a 29.3% increase in investments.
by Paulo Reganin
Brazil’s gross domestic product (GDP) grew 9.7 percent in the quarter ending in May this year, compared to the same period last year. The information comes from GDP Monitor, by the Getúlio Vargas Foundation (FGV).
Compared to the quarter ending in February this year, however, the Brazilian economy saw losses adding up to 0.9 percent. Considering May alone, the GDP was up 1.8 percent against April this year and 13.4 percent compared to May 2020.
The 9.7 percent increase in the quarter ending in May this year, compared to the same period in 2020, was pulled by growths of 29.3 percent in the gross formation of fixed capital (investment) and 10.1 percent in families’ consumption.
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Data from Brazilian News Agency.