
Brazil's
economy grew by 3.3% year-on-year in the second quarter, according to official
new state figures.
The Instituto Brasileiro de Geografia e Estatistica (IBGE) also said that the economy grew by 1.5% in the quarter from the previous one.
That number was above economists' predictions of 0.9%.
Finance Minister Guido Mantega earlier this month reduced 2013 growth targets to 2.5% from an already reduced 3.0% and for 2014 down to 4.0% from 4.5%.
The agricultural industry, which saw production surge 3.9%, was responsible for most of the growth in Latin America's biggest economy between April and June, following on from 9.7% growth in the first quarter.
The sector's performance was mainly due to soy production, which rose by 23.7% compared with the second quarter of 2012.
Meanwhile, corn production grew by 12.2%, beans rose 8.4% and rice production increased 2.9%.
No comments:
Post a Comment