In comparison with the same period of 2022, a survey by FGV indicates that economic activity in Brazil increased by 3.6%
The Brazilian economy recorded growth of 1.6% in the 1st quarter of this year compared to the last 3 months of 2022, according to FGV (Getulio Vargas Foundation). Compared to the same period (January, February and March) of 2022, the indicator grew by 3.6%.
The GDP Monitor (Gross Domestic Product) was released this Tuesday (17.jan.2023). Here’s the full of the report (647 KB).
The FGV assessed that the positive balance was justified by the performance of agriculture, 10.9%. “The growth of agriculture and livestock was very concentrated and should not be maintained at this pace throughout the year. The strong contribution of soybean production and its high participation in the added value of agriculture were crucial for GDP growth in the 1st quarter”, says the GDP Monitor.
Gross fixed capital formation –which indicates the investment of resources in the economy’s productive capacity– increased by 0.2% between January and March 2023.
Household consumption grew by 4.7% in the quarter. This indicator was boosted mainly by fuel consumption.
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