#Wittels- Posted June 3, 2022 Posted June 3, 2022 In addition, the Brazilian Institute of Geography and Statistics (IBGE) revised upwards the figures for the third and fourth quarters of 2021, with which Brazil leaves the technical recession scenario in which it had entered before with two consecutive quarters of setbacks. The Brazilian Gross Domestic Product (GDP) grew by 1.0% compared to the last three months of 2021 | Reuters Brazil started 2022 with an acceleration of economic growth, registering between January and March an expansion for the third consecutive year with the help of the recovery of the services sector, even with the scenario of inflation and high interest rates and external uncertainties. The Brazilian Gross Domestic Product (GDP) grew by 1.0% compared to the last three months of 2021, showing an acceleration compared to the end of last year, when it grew by 0.7% compared to the previous quarter. The data published this Thursday by the Brazilian Institute of Geography and Statistics (IBGE) was the highest since the first quarter of 2021 (+1.1%), but was below the expectation in a Reuters survey of a gain of 1.2%. The IBGE, however, revised upwards the figures for the third and fourth quarters of 2021, registering increases of 0.7% and 0.1%, respectively, after having previously reported rates of 0.5% and -0, 1%. The figure for the second quarter also improved, although still without reversing the negative result, with a drop of -0.2% from the previously reported -0.3%. With the positive result of the third, Brazil leaves the scenario of technical recession in which it had entered before with two consecutive quarters of setbacks. However, the advance of 4.6% of GDP in the whole of 2021 was maintained, and economic activity is now 1.6% above the level of the fourth quarter of 2019, the period before the pandemic, according to the IBGE. Compared to the first quarter of 2021, GDP expanded 1.7%, versus expectations of 1.8% on this basis of comparison. The performance of the economic activity appeared at the beginning of this year, even with two-digit inflation in 12 months and the rise in the basic interest rate. The reopening of the economy after the Covid-19 lockdowns helped, as did the recovery in employment and the expansion of disposable income, although below expectations in the first quarter. And the demand in the country was favored by a greater fiscal stimulus, after an increase in income transfers to the poorest through Auxílio Brasil. Link: https://www.americaeconomia.com/economia-brasil-se-acelera
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