How fast is the brazilian economy growing

It is up 0. Economy Minister Paulo Guedes said growth this year will likely be "very strong", and economists at Citi and Goldman Sachs jacked up their gross domestic product growth forecasts to 5. Brazil's economic recovery has also helped accelerate inflation, prompting aggressive interest rate hikes. The central bank has raised its benchmark Selic rate by 75 basis points at each of its last two policy meetings, to 3.

Brazil's first-quarter growth was driven by services, industry and fixed business investment, official statistics agency IBGE figures showed. View in Article Haver Analytics, sourced on September 3, Unless otherwise stated, all data is sourced through Haver Analytics.

View in Article Ibid. View in Article. Acknowledgements Cover image by: Jaime Austin. Deloitte Global Economist Network. Learn more. Related content. Brazil Economic Outlook Article. Latin America Economic Outlook Article. Mexico economic outlook Article. More from the Economics collection.

United States Economic Forecast Article. Japan Economic Outlook. The curious case of the labor market recovery Article. A view from London Article. Commemorating 50 years of floating exchange rates.

Does my organisation subscribe? Group Subscription. Premium Digital access, plus: Convenient access for groups of users Integration with third party platforms and CRM systems Usage based pricing and volume discounts for multiple users Subscription management tools and usage reporting SAML-based single sign-on SSO Dedicated account and customer success teams.

Learn more and compare subscriptions content expands above. Full Terms and Conditions apply to all Subscriptions. Or, if you are already a subscriber Sign in. Region Reports. Country Reports. Annual Subscriptions. While overall activity grew at a robust rate in July—August, the economy appeared to be operating at two different speeds. Externally, exports were supported by rising commodity prices and strong foreign demand.

However, domestically, industrial production shrank in July—September and retail sales tumbled at the fastest pace in eight months in August amid declining consumer confidence, pointing to muted household spending in the quarter. Meanwhile, senators have voted to recommend that President Bolsonaro face various criminal charges—including crimes against humanity—for his handling of the pandemic.

While the charges are likely to be struck down by Prosecutor-General Augusto Aras, a Bolsonaro appointee, the vote will put further pressure on the president, whose approval ratings have slumped to all-time lows in recent months.