INVESTMENT RATE (GFCF/GDP) Q3 2014 = 17.4%
SAVINGS RATE (SAVINGS/GDP) Q3 2014 = 14.0%

The Gross Domestic Product (GDP) recorded positive change of 0.1% in the comparison between Q3 and Q2 2014, in the seasonally-adjusted series. There was negative change of GDP (-0.2%) in comparison with figures of the same period in 2013. The cumulative GDP result relative to the four quarter-period ending in Q3 2014 grew 0.7% in comparison with the result of the four immediately previous quarters. The cumulative result of 2014 until September showed positive change of GDP by 0.2% versus the same period of 2013. At current values, GDP in Q3 2014 reached R$ 1,289.1 billion. The complete publication is available at www.ibge.gov.br/english/estatistica/indicadores/pib/defaultcnt.shtm.

In relation to Q2 2014, industry and services record increases and agriculture falls

The Gross Domestic Product (GDP) recorded positive change of 0.1% in the comparison between Q3 and Q2 2014, in the seasonally-adjusted series.  Agriculture faced decrease (-1.9%), whereas industry (1.7%) and services increased in the period. All the subsectors of industry presented positive change in relation to the previous quarter. A highlight was the 2.2% increase of . All the subsectors of industry presented positive change in relation to the previous quarter. A highlight if the 2.2% increase of mining and quarrying industry , followed by civil construction (1.3%), manufacturing industry (0.7%) and electricity and gas, water, sewage and urban sanitation (0.1%). In services, relevant contributions came from transportation, storage and mailing (1.4%) and financial intermediation and insurance (0.6%). The remaining activities also recorded positive change: real estate activities and renting (0.5%), trade (0.4%), administration, health and public education (0.4%), other services (0.3%) and information services (0.1%).

From the perspective of expenditure, households recorded negative change (-0.3%) in relation to the previous quarter. This result was partially counterbalanced by the increase and good performance of other components of domestic demand. Both gross fixed capital formation (GFCF) and consumption expenditure of public administration recorded increase of 1.3% in relation to the second quarter of the year. With reference to the external sector, exports and imports of goods and services increased, respectively, by 1.0% and 2.4%.

Compared with Q3 2013, industry fell and services recorded increase

In comparison with that of the same period a year ago, GDP recorded negative change (-0.2%) in the third quarter of 2014. Value added at basic prices changed negatively (-0.1%) and product taxes less subsidies faced decrease (-1.3%). From the perspective of output, agriculture changed 0.3%, industry fell (-1.5%) and services increased (0.5%).

The change of agriculture (0.3%) can be mainly seen as a consequence of the performance of some agricultural products which have significant crops in the third quarter. Decline was observed in coffee (-6.6%) and sugarcane (-5.9%), whereas orange (3.2%), cassava (10.1%), beans (10.19%) and wheat recorded higher results.

Industry fell (-1.5%) against its own result in Q3 2013. Manufacturing industry fell (-3.6%), affected by the reduction of output in automotive industry ; metal products ; machinery and equipment ; basic metals ; electric machines and equipment ; furniture and rubber and plastic .

The value added of services recorded increase of 0.5% in comparison with that of the same period a year ago, the main highlight being real estate activities and renting (2.0%) and information services (2.0%). Transportation, storage and mailing (which encompasses cargo and passenger transportation) increased 1.8%, followed by Public administration, health and education (1.0%). Considering (retail and wholesale) trade and the activity of other services there were decreases of 1.8% and 0.6%, respectively.

Gross fixed capital formation fell (-8.5%) in relation to Q3 2013

Among the components of domestic demand, gross fixed capital formation (GFCF) faced decrease of 8.5% in the third quarter of 2014, affected by the decrease of internal output and of the imports of capital goods, besides the negative performance of civil construction.

The consumption expenditure of households decelerated, presenting positive change of 0.1%. One of the factors accounting for this result was the behavior of real wage bill, which grew 2.9% when compared to that of Q3 2013. On the other hand, the real increase of credit with free resources for natural persons was null. In the third quarter of 2014, credit operations of the National Financial System increased 5.0% in nominal terms. The consumption expenditure of public administration increased 1.9% in comparison with that of the same period in 2013.

In the external sectorexports andimports of goods and services presented increase: 3.8% and 0.7%, respectivamente. Among exports, the main highlights in terms of increase were: products from mining and quarrying industry (oil and coal); steel products; iron products; textiles; pieces and other vehicles; furniture; and transportation services.

Cumulative GDP in the year stays at 0.2% and increases 0.7% in 12 months

GDP from January to September 2014 presented positive change of 0.2% in relation to the same period in 2013. A highlight is the performance of agriculture and services, both with increase of 0.9%. Industry, on the other hand, faced decrease of 1.4%.

The cumulative GDP result relative to the four quarter-period ending in Q3 2014 grew 0.7% in comparison with that of the four previous quarters. There was decrease in industry (0.5%) and rise in services (1.2%) and agriculture (1.1%).

In Q3 2014, GDP reaches R$ 1,3 trillion

The Gross Domestic Product of Q3 2014 reached R$ 1,289.1 billion.The investment rate of the third quarter of 2014 was 17.4% of the GDP, below the rate recorded in the same period a year ago (19.0%). This increase of the investment rate was mainly influenced by the decrease, in terms of volume, of Gross fixed capital formation in the quarter. The savings rate was 14.0% in the third quarter of 2014 (versus 15.1% in the same quarter of 2013).