Brazil's GDP up 0.6 pct in Q3
Published: Dec 04, 2019 03:00 PM

Citizens take part in a street carnival parade in downtown Sao Paulo, Brazil, on March 4, 2019. (Xinhua/Rahel Patrasso)

Brazil's gross domestic product (GDP) rose 0.6 percent in the third quarter of 2019 compared with the second quarter, reaching 1.8 trillion reals (428 billion U.S. dollars), the country's Institute of Geography and Statistics (IBGE) said on Tuesday.

Compared with the same period of 2018, Brazil's GDP in the third quarter of 2019 increased 1.2 percent.

The biggest growth came from the agriculture sector which grew 1.3 percent, followed by industry sector (0.8 percent) and services sector (0.4 percent), according to the data from the IBGE.

On a year-on-year basis, the agriculture sector grew 2.1 percent in the third period of 2019, while the industry sector and services sector both grew 1 percent.

Investments rose 2 percent from the second quarter of 2019 and jumped 2.9 percent year-on-year.

Households' consumption was up 0.8 percent from the second quarter of 2019 and 1.9 percent from a year ago.

Government expenses fell 0.4 percent form the previous quarter and dropped 1.4 percent year-on-year.

The rate of savings was 13.5 percent in the third quarter, comparted with 13.1 percent in the same period of 2018. The rate of investment remained stable at 16.3 percent.