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Brazil Has to Grow 5.2% in Last Quarter to Reach Government’s Forecast

The economy of Brazil grew 2.5% in the first three quarters of 2006, compared to the same period last year. Industry was the sector that grew the most, with a positive performance of 2.7%.

The data are from the National Accounts report, published today, November 30, by the Brazilian Institute of Geography and Statistics (IBGE).

The Brazilian Gross Domestic Product (GDP) saw 0.5% growth in the third quarter compared to the second one, and 3.2% growth compared with the same period last year.

The Brazilian economy will have to grow 5.2% in the last quarter of this year, when compared to the same period of 2005, so that the 2006 consolidated Gross Domestic Product (GDP, the sum of all the country riches) may grow the 3.2% anticipated by the federal government.

The estimate was made by the coordinators of the National Accounts from the Brazilian Institute of Geography and Statistics (IBGE), which calculates the Brazilian GDP.

Since the third quarter of 2004, when the GDP grew 5.9% compared to the same period of the previous year, Brazil hasn’t grown more than 5%. In the fourth quarter of 2005, for example, the Brazilian economy grew 1.4%. In the last quarter of 2004, the growth had been 4.7%.

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