Brazil: GDP rises 5.8 percent in first quarter

11 June 2008

Brasilia, Brazil, 11 June – The Brazilian economy grew 5.8 percent year on year in the first quarter of 2008, Brazil’s Geographical and Statistics Institute (IBGE) said Tuesday in Brasilia.

In all, the economy’s transactions totalled 665.5 billion reais from January to March, or 0.7 percent more than in the previous quarter.

The accumulated growth for the last four consecutive quarters shows that GDP had grown by 5.8 percent in relation to the four quarters that immediately preceded them.

The result was higher than economists and market analysts had projected.

According to the Central Bank, the market had been expecting growth of 5.66 percent in the first quarter of 2008 in relation to the same quarter of the previous year.

In the period, investment, as measured by so-called gross fixed capital formation (GFCF), rose 15.2 percent year on year and 1.3 percent against the last quarter of 2007. (macauhub)