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Economy grew 7.5% from the second to the third quarter, says FGV

11/19/2020 | 13h37

The Gross Domestic Product (GDP), which is the sum of all goods and services produced in the country, grew by 7.5% in the third quarter of this year, compared to the second quarter. The data is from the GDP Monitor, from Fundação Getulio Vargas (FGV), released today (19).


“The strong growth of 7.5% in the Brazilian economy in the third quarter, partly reverses the strong decline of 9.7% recorded in the second quarter of this year, due to the arrival of the covid-19 pandemic in Brazil, the from March. However, this growth is not enough to recover the level of economic activity that is still 5% below that observed in the fourth quarter of last year ”, says the research coordinator, Claudio Considera.


According to him, despite the widespread recovery among economic activities, the service sector is still struggling to recover. “Even with the relaxation of isolation measures and a small marginal improvement in the sectors of accommodation, food, services provided to families, education and health, the observed growth is still very little compared to the deterioration caused by the pandemic observed in these segments. The high uncertainty regarding the future of the pandemic has inhibited the most robust recovery in the service sector, which is the most relevant activity in the Brazilian economy ”, explains Considera.


Despite this, compared to the third quarter of 2019, there was a 4.4% drop in the third quarter of this year.


Analyzing only the month of September, there was an increase of 1.1% in comparison with August and of 2.3% in comparison with September of last year.


In comparison with the second quarter of this year, household consumption fell by 5.1%, while gross fixed capital formation (investment) fell by 2.2%. Exports grew by 1.7%, while imports fell by 24.4%.

Font: T&B Petroleum/Agência Brasil
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