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Brazilian GDP grows 0.5% in the second quarterPhoto by Geancarlo Peruzzolo on Pexels
Business
Экономика
Lisboa

Brazilian GDP grows 0.5% in the second quarter

extra1 September 2026 at 13:13

The Gross Domestic Product (GDP) of Brazil grew 0.5% in the second quarter of 2024, losing momentum compared to the first three months of the year, when growth was 1.1%. The data was released by the Brazilian Institute of Geography and Statistics (IBGE) on Tuesday.

The slowdown, which had already occurred in the previous year, was mainly driven by a 0.4% drop in household consumption compared to the first quarter. Despite this, the heated labor market still contributes to sustaining domestic demand.

Economists heard after the first economic activity data already anticipate that the slowdown should continue until the end of the year. The latest edition of the Focus Bulletin, a weekly projections survey by the Central Bank, indicates that the Brazilian economy should grow 1.9% in 2024.

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