December 10, 2009
Brazil economy expands in Q3
Brazil’s Government says its economy expanded in the third quarter as the nation continues to experience robust growth after emerging from a short recession brought on by the global meltdown.
The Government’s IBGE statistics agency says gross domestic product rose 1.3 per cent from July through September compared to the second quarter — when Latin America’s largest economy shook off its recession.
The report released yesterday said third-quarter growth was down 1.2 per cent from the same quarter a year ago.
Brazil’s economy contracted 1 per cent for the 12-month period ending in September. Overall growth for 2009 is expected to be flat or slightly positive. Experts predict the Brazilian economy will expand as much as 6 per cent next year.
