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Brazil’s GDP Decelerates, But It Is Still Up 2.9%

In the first three months of this year, the total wealth produced by the country amounted to US$ 186.41 billion (438.6 billion reais). This value, expressed as the Gross Domestic Product (GDP), was 2.9% greater than during the same period last year.

When compared with the final quarter of 2004, it represents a seasonally adjusted increase of 0.3%. This figures were released by the Brazilian Institute of Geography and Statistics (IBGE).

"It is decelerating, but it is still greater than in the first quarter of last year," observes Rebeca Palis, manager of National Accounts in the IBGE. She explains, however, that the basis of comparison in the first quarter is low.

"Because, in truth, the economy only really began to build up steam in the second and third quarters of last year. So the first quarter of last year was still a depressed quarter," she explained.

ABr

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