The Brazilian gross domestic product grew in the second quarter by 3,3% on an annual basis and by 1,5% compared to the previous four months. This was announced by the Brazilian Institute of Statistics. The figures beat analysts' expectations by almost one percentage point.
In August, Finance Minister Guido Mantega had reduced the growth targets for 2013 from 3 to 2,5% and those for 2014 from 4,5 to 4%.
The agricultural sector, whose production marks a +3,9% between April and June, is the real driving force behind the positive performance of the largest Latin American economy. In detail, soybeans fly by +23,7% compared to the second quarter of 2012. Wheat production also did well, up by more than 12%.
Manufacturing scores + 2%. The results of the services sector were more modest, growing by less than one percentage point.
The results come mind in Brazil still navigates bad waters, due to the collapse of the real, and a few hours from decision to raise the reference rate by half a point to slow down the rate of inflation.
