Brazil Economic Growth Eases In Q4

(RTTNews) - The Brazilian economy expanded at a slower pace in the final quarter of 2024, according to figures released on Friday by the Brazilian Institute of Geography and Statistics, or IBGE.

Gross domestic product advanced 0.2 percent sequentially in the December quarter, slower than the 0.7 percent growth in the September quarter. Economists had expected an expansion of 0.5 percent.

The expenditure breakdown showed that gross fixed capital formation grew 0.4 percent, and government consumption expenditure rose by 0.6 percent. On the contrary, household consumption expenditure declined by 1.0 percent.

Both exports and imports dropped by 1.3 percent and 0.1 percent, respectively.

On a yearly basis, GDP growth moderated unexpectedly to 3.6 percent from 4.0 percent in the second quarter. The expected growth was also 4.1 percent.

During the year 2024, the Brazilian economy advanced 3.4 percent compared to 2023, driven by industrial and service sectors.