Lula Calls Brazil’s GDP Growth “Excellent News”

Brazilian President Luiz Inácio Lula da Silva remarked yesterday, May 31, that the growth of Brazil’s Gross Domestic Product (GDP) in the first quarter of 2006 "is excellent news."

According to Lula, the increase occurred across the board, in agriculture, industry, and the service sector.

"And, what is more important, machinery and equipment imports rose. This indicates that entrepreneurs are counting on sustainable growth," he emphasized, according to information released by the presidential press and spokesman’s office.

The GDP, the total of all goods and services produced in the country, was up 1.4% in the first quarter of 2006 in comparison with the final quarter of 2005.

The increase reflects growth in industry (1.7%), agriculture (1.1%), and services (0.8%). In comparison with the first quarter of 2005, the GDP was 3.4% higher.

These data come from the Quarterly Bulletin of National Accounts, released yesterday by the Brazilian Institute of Geography and Statistics (IBGE).

Civil Construction

The civil construction sector grew by 7% in the first quarter of the year in Brazil. During the last twelve months, the sector accumulated an increase in 2.84%. The aim, however, is to reach the end of 2006 with an increase in 5.1% in activities.

ABr

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