In relation to the fourth quarter of 2012, the GDP (Gross Domestic Product) at market prices posted a positive change of 0.6%, in the seasonally adjusted series.  The greatest highlight was agriculture, advancing 9.7%. Services grew 0.5%, whereas the industry fell 0.3%. In the comparison with the same period of 2012, there was a 1.9% increase in the GDP in the first quarter of the year. In the cumulative index of the four quarters ended in the second quarter of 2013, the GDP presented a growth of 1.2% in relation to the prior four quarters.  At current values, the GDP at market prices reached R$ 1,110.4 billion, of which R$ 940.4 billion were relative to the Value Added (VA) at basic prices and R$ 170.0 billion, to Taxes Less Subsidies on Products.

The complete publication is available at:

www.ibge.gov.br/home/estatistica/indicadores/pib/defaultcnt.shtm.

In relation to Q4 of 2012, agriculture and services grow; industry falls

Compared to the fourth quarter of 2012, the GDP grew 0.6%, in the seasonally adjusted series.  The highlight was agriculture, advancing 9.7%. In Services there was a rise of 0.5%, whereas the Industry recorded a drop of 0.3%.  

The fall in the industry was pushed by mineral extraction (-2.1%). Civil construction and electricity and gas, water supply, sewage and urban cleaning changed -0.1%, whereas the manufacturing industry rose 0.3%.

Among services, the growth of the activities of public management, health and education (0.8%), real estate and renting (0.7%), trade (0.6%), and information services (0.3%) stood out. On the other hand, financial intermediation and insurance (0.1%) remained unchanged. Other services and transportation, storage and mail services decreased by 0.5% and 0.9%, respectively.  

From the expenditure perspective, the positive highlight was the growth of 4.6% in the gross fixed capital formation. The expenses with family and public management consumption were virtually unchanged (-0.1% and 0%, respectively).  

Concerning the external sector, the imports grew 6.3%; whereas the exports had a drop of 6.4%.

In the comparison with Q1 of 2012, agriculture grows 17.0%.

When compared to the same period a year ago, the GDP at market prices presented a growth of 1.9% in the first quarter of 2013. The value added at basic prices grew 1.8% and taxes less subsidies on products, 2.4%.

The highlight was agriculture, advancing 17.0%. The rate can be attributable to the good performance of some products that have a relevant crop in the 1^st quarter and to the productivity growth. Among the products with relevant crops in the quarter and that registered growth, are soybean (23.3%), corn (9.1%), tobacco (5.7%) and rice (5.1%).

The industry presented a fall of 1.4% against a stability of 0.1% recorded in the same period of 2012. The mining and quarrying industries declined 6.6%, affected by the drop in the petroleum extraction. Civil construction also posted a drop of 1.3%.  The manufacturing industry fell 0.7%, influenced by the contraction in the manufacture of office machinery and computer equipment; metal; inorganic chemicals; pharmaceuticals, textiles and wearing apparel. The fall in these sectors was partially offset by the production growth of motor vehicles; other transportation equipment, electric machinery and apparatus and furniture.  Conversely, electricity and gas, water supply, sewage and urban cleaning presented a growth of 2.6%.  

Services grew 1.9%. All the activities under services recorded positive changes, with a highlight to the 2.6% growth in other services, which, besides services rendered to enterprises, encompasses services rendered to families, for-profit health care, for-profit education, lodging and food services, associative services, domestic services and repair and maintenance services. Information services grew 2.5%, whereas public management, health and education rose by 2.2%, followed by real estate and renting (1.9%) and financial intermediation and insurance (1.5%). Wholesale and retail trade and transportation, storage and mailing services (comprising freight and passenger transportation) registered and expansion of 1.2% and 0.3% in the quarter, respectively.

Family consumption grows for the 38^th time in a row

Considering the domestic demand, family consumption expenditure rose 2.1%, the 38^th consecutive positive change in this base of comparison.  One of the factors that contributed to this result was the behavior of the real payroll, which increased 3.2% in the first quarter of 2013. In addition, there was a rise of 9.5% in the first quarter of 2013, in nominal terms, in the balance of credit operations of the financial system for consumer credit.

The gross fixed capital formation posted a growth of 3.0% in relation to the same period a year ago, after four drops in a row in 2012, due to the import expansion and domestic production of capital goods.  Public management consumption expenditure, on its turn, grew 1.6% in comparison with the same period of 2012.  

The external demand marked a negative contribution. Even tough imports grew 7.4%, exports diminished 5.7%. Among the exports, there were falls in machines and tractors; food products; electric material; motor vehicles and petroleum refining and petrochemicals. The imported goods which contributed to the positive result of imports were electric material; pharmaceuticals and toiletries; wood and furniture; chemicals; plastic; textiles and petroleum refining and petrochemicals.

In 4Qs (12 months), GDP grows 1.2%.

The cumulative GDP over four quarters grew 1.2% in relation to the prior four quarters.  This rate resulted from the 1.1% rise of the value added at basic prices and from the 1.8% rise in the taxes less subsidies on products. The result of the value added in this kind of comparison is due to the following performances: agriculture (3.9%), industry (-1.2%) and services (1.7%).

From the perspective of demand, family consumption expenditure grew 3.0%, followed by public management consumption expenditure (2.8%).  The gross fixed capital formation fell 2.8%. Concerning the external sector, the imports decreased 2.3%; whereas the exports rose 0.6%.

In Q1 of 2013, GDP hits R$ 1.11 trillion

In Q1 of 2013, the GDP at market prices added up to R$ 1,110.4 billion, of which R$ 940.4 billion were related to the value added at basic prices and R$ 170.0 billion to the taxes less subsidies on products.  Considering the value added of the activities in the quarter, agriculture recorded R$ 59.7 billion, industry, R$ 230.2 billion and services, R$ 650.5 billion. Among the demand components, family consumption expenditure totaled R$ 722.9 billion, public management consumption expenditure, R$ 212.9 billion and the gross fixed capital formation R$ 204.9 billion.

The investment rate in the first quarter of 2013 was of 18.4% of the GDP, lower than the rate related to the same period a year ago (18.7%).  The savings rate reached 14.1% in the first quarter of 2013 (against 15.7% in the same quarter of 2012).

In Q1 of 2013, the need for loan rose by R$ 29.5 billion in relation to the same period of 2012. The gross national income reached R$ 1 090.8 billion against R$ 1 023.3 billion in the same period a year ago.  In the same comparison, the gross savings rate reached R$ 156.7 billion, against R$ 162.6 billion in the same period of 2012.