The economy of Brazil grew 1.9% in the second quarter this year compared with the previous quarter. The highest expansion was recorded in the industry sector, which had a 2.1% increase in output. The services sector, in turn, grew 1.2%. Agriculture saw a reduction of 0.1%.
In comparison with the second quarter of 2008, the GDP decreased by 1.2%. In the four-quarter period ending in June, the GDP grew 1.3% over the previous four-quarter period. In the first half of 2009, the sum of all wealth produced in the country saw a reduction of 1.5% in comparison with the same period last year.
Using the same basis for comparison, family consumption grew 3.2%, in the 23rd consecutive period of growth. One of the factors that contributed to the result was the behavior of the actual wage bill, which grew 3.3% in the second quarter of 2009. Besides, credit granted to natural persons grew 20.3%.
Expenditure on consumption by the public administration had a 2.2% variation compared with the first quarter of 2008, and investment (gross formation of fixed capital) decreased by 17%.
This was the highest rate of reduction using this basis for comparison since 1996, when the Brazilian Institute of Geography and Statistics (IBGE) started keeping track of quarterly figures.
Trade Surplus
Brazil's trade surplus in the second week of September, with four working days, totaled US$ 327 million, as informed by the Brazilian Ministry of Development, Industry and Foreign Trade.
Last week, exports totaled US$ 2.518 billion and imports, US$ 2.191 billion. So far this month, the surplus is US$ 807 million, the result of US$ 5.256 billion in exports and US$ 4.449 billion in imports.
From January until the second week of September, the trade surplus is US$ 20.775 billion, growth of 12.4% over the same period of 2008 (US$ 18.480 billion). Up until last week, exports totaled US$ 103.191 billion and imports, US$ 82.416 billion.
ABr