Brasilien BIP Veränderung zum Vorjahr

The Brazilian GDP expanded by 3.3% from the corresponding period of the previous year in the second quarter of 2024, accelerating from the 2.5% increase in the first quarter, firmly above market expectations of a 2.7% increase. The result extended the stronger momentum for the Brazilian economy following the muted momentum at the end of 2023, strengthening the argument for hawks in the Brazilian central bank to deliver a rate hike. Growth was led by the services industry (3.5%) as the elevated level of government transfers stimulated consumption, with information and communication (6.1%), financial services (4%), and commerce (4%), recording the highest growth rates. The GDP also expanded for industry (3.9%), but contracted for agropecuary industries (-2.9%) due to lower prices for key agricultural commodities that Brazil depends on. From the earlier quarter, the Brazilian GDP rose by 1.4%.