Brazil’s Economy Shrinks, So Does Consumer Confidence

    Brazil’s Gross Domestic Product (GDP) went down in the third quarter of this year for the first time since the first quarter of 2003.

    The data released today by the Brazilian Institute of Geography and Statistics (IBGE) show that the sum of goods and services produced in the country dropped 1.2% in the period between July and September in comparison with the second quarter of the year.

    Nevertheless, when compared with the third quarter of 2004, the third-quarter results represent a 1% improvement.

    From January to September, the country’s economy grew 2.6% in relation to the same period last year.

    The IBGE informs that the third-quarter 2005 results, in comparison to the previous quarter, evidence the impact of lackluster performances in agriculture, which registered a 3.4% decline, and industry, which was off 1.2%. The service sector held steady.

    Less Confident Consumer

    The latest survey of Consumer Confidence Brazil’s Getúlio Vargas Foundation found that the index fell from 104.2 in October to 102 in November.

    There was also a drop in the Expectations index, going from 106.1 in October to 104.1 in November.

    However, when asked to evaluate the economic situation, consumers had a better opinion of it in the latest poll than in October.

    In October, 10.6% of those interviewed said the economic situation was good; in November that rose to 11.1%. And in October, 47.7% of those interviewed said the situation was bad; while in November only 46.5% said it was bad.

    The survey interviewed 1,969 people in Brazil’s main cities between November 1st and 22.

    ABr

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Ten-Story High Floating Platform Goes in Service off Brazil’s Coast

    Brazil's government managed hydrocarbons corporation Petrobras began yesterday oil and gas extraction from the ...

    New Varig’s First Move: To Cancel All Domestic and International Flights

    In a swift and surprising move, the new owners of Varig Brazilian Airlines, just ...

    Brazil Takes the Lead on Wind Energy in Latin America

    The largest wind energy park in Brazil and one of the greatest in the ...

    Guido Mantega

    Two Consecutive Quarters of Shrinking Don’t Discourage Brazil Minister’s Rosy Forecast

    Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting ...

    Mutinies and Deaths Bring Brazil’s Minors Institution to OAS Court

    The Interamerican Human Rights Court, meeting in San José, Costa Rica, is holding public ...

    Nilton Matta

    Brazil’s Nilson Matta: The Master of Lower Tones

    After having interviewed Romero Lubambo and Duduka Da Fonseca in this series, it was ...

    Brazil fan cries during Brazil-France match in 2006 World Cup

    Keep Your Cool, Brazil! You Still Have Big Phil.

    So where did this year’s World Cup gathering in Germany leave the once-capable soccer ...

    Youth Maze

    Who is the Brazilian teenager? He/she is passionate and apathetic, abstemious and drug-addicted, criminal ...

    President Dilma Rousseff

    Brazil’s New President Wins Amid Fears She Could Overextend State’s Role

    Dilma Vana Rousseff, Brazilian president Luiz Inácio Lula da Silva’s handpicked candidate to succeed ...

    Brazilian satellite Cbers

    Brazilian Satellite Images Are Offered Free to the World

    The Brazilian government informs that Egypt will soon start receiving images from the Cbers ...