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In the seasonally-adjusted series, the Gross Domestic Product (GDP) declined 0.2% in the comparison between the first quarter of 2015 and the fourth quarter of 2014. Compared with the same period in 2014, the GDP declined 1.6% in the first quarter of the year. The cumulative GDP in the four quarters ended in the first quarter of 2015 dropped 0.9% over the immediately previous four quarters.

The GDP at current values reached R$ 1.408 trillion in the first quarter of 2015, being R$ 1.199 trillion relative to Value Added (VA) at basic prices and R$ 209.0 billion to Product Taxes net of Subsidies . In the first quarter of 2015, the investment rate was 19.7% of the GDP, below that reported in the same period last year (20.3%). Also in the first quarter of 2015, the savings rate was 16.0% (against 17.0% in the same period in 2014). The complete publication can be accessed on page www.ibge.gov.br/english/estatistica/indicadores/pib/defaultcnt.shtm.

In the seasonally-adjusted series, the GDP declined 0.2% in the comparison between the first quarter of 2015 and the fourth quarter of 2014. Agriculture grew 4.7%, Industry retreated 0.3% and Services fell 0.7%.

In Industry, Mining and quarrying (3.3%) and Civil construction (1.1%) increased. Electricity and gas, water, sewage and urban sanitation (-4.3%) and Manufacturing industry (-1.6%) dropped.

In Services, the drop was led by Transportation, storage and mailing (-2.1%), Public education, health and administration (-1.4%), Other services (-1.4%), Financial intermediation and insurance (-0.8%) and Trade (-0.4%). Real estate activities and Information services rose 1.2% and 1.1%, respectively.

Under the point of view of expenditures, all the components of the domestic demand retreated in relation to the previous quarter. Household Consumption Expenditure fell 1.5%, whereas both Gross Fixed Capital Formation and Government Consumption Expenditure declined 1.3%.

In the foreign sector, Exports and Imports of Goods and Services expanded, respectively, 5.7% and 1.2% in relation to the immediately previous quarter.

GDP falls 1.6% over the first quarter of 2014

When compared with the same period last year, the GDP retreated 1.6% in the first quarter of 2015. The Value Added at basic prices decreased 1.2% and the Product Taxes less Subsidies, 3.5%.

Agriculture grew 4.0% in relation to the same period a year ago, mainly due to the performance of some farm products with relevant harvest in the first quarter. This was the case of soybeans (10.6%), rice (0.7%), cassava (5.1%) and tobacco (1.7%), according to the Systematic Survey of Agricultural Production (LSPA/IBGE). Although also registering a significant harvest in the first quarter, corn posted a negative change (-3.1%).

Industry declined 3.0%. Considering the decreasing production of the car industry; machinery and equipment; electronic products and computer equipment; wearing apparel; and tobacco products, the Manufacturing Industry dropped 7.0%.

The activity of Electricity and gas, water, sewage and urban sanitation dropped 12.0%, negatively influenced by the higher use of thermoelectric plants to generate energy, as well as by the reduced supply and consumption of water. Civil construction also decreased (-2.9%). Mining and quarrying rose 12.8% in relation to the first quarter of 2014, leveraged by the increased extraction of petroleum, natural gas and ferrous ores.

The value added of Services fell 1.2% in relation to the same period last year, highlighted by the contraction of 6.0% in Trade (wholesale and retail) and of 3.6% in Transportation, storage and mailing (which encompasses cargo and passengers). The activities of Public education, health and administration (-1.4%), Other services^[1] (-0.6%) and Financial intermediation and insurance (-0.4%) also recorded negative figures.

Real estate activities (2.8%) and Information services (2.9%) - which include telecommunications, TV, radio and cinema activities, publishing of newspapers, books and magazines, and information technology and other services related to information and communication technologies (ICTs) - recorded positive figures.

All the components of the domestic demand dropped in relation to the first quarter of 2014. Household Consumption Expenditure (-0.9%) posted the first drop since the third quarter of 2003, explained by the negative evolution of inflation, credit, employment and income indicators along the first three months of the year.

Gross Fixed Capital Formation fell 7.8%, mainly due to the drop of the imports and of the domestic production of capital goods, as well as to the negative performance of civil construction. On its turn, Government Consumption Expenditure dropped 1.5%.

In the external sector, the Exports of Goods and Services increased 3.2%, whereas the Imports fell 4.7%. Among the exports of goods, the positive highlights were petroleum and coal, steel industry and textiles. On the imports side, the highest drops were in motor vehicles and electronic equipment.

Cumulative GDP in four quarters declines 0.9%

The cumulative GDP in the four quarters ended in the first quarter of 2015 declined 0.9% over the immediately previous four quarters. This rate resulted from the contraction of 0.7% in the Value Added at basic prices and from the decline of 1.9% in the Product Taxes less Subsidies. The result of Value Added was due to the following performances: Agriculture (0.6%), Industry (-2.5%) and Services (-0.2%).

Dentre as atividades industriais, apenas a Extrativa Mineral (10,3%) cresceu. A atividade de Eletricidade e gás, água, esgoto e limpeza urbana caiu 7,3%, seguida pela Indústria da Transformação (-5,6%) e pela Construção civil (-4,0%).

Nos Serviços, o destaque foram Serviços de informação (3,6%) e Atividades imobiliárias (3,0%). Outros serviços (-0,1%) manteve-se praticamente estável. Já as demais atividades recuaram: Comércio (-3,8%),Transporte, armazenagem e correio (-0,4%), Intermediação financeira e seguros (-0,3%) e Administração, educação pública e saúde pública (-0,2%).

Na análise da despesa, a Formação Bruta de Capital Fixo caiu 6,9%, mas a Despesa de Consumo das Famílias (0,2%) e a Despesa de Consumo do Governo (0,4%) cresceram. Já no âmbito do setor externo, tanto as Exportações quanto as Importações de Bens e Serviços apresentaram queda: -1,0% e -2,5%, respectivamente.

PIB no primeiro tri de 2015 chega a R$ 1,408 trilhão

O Produto Interno Bruto no primeiro trimestre de 2015 totalizou R$ 1,408 trilhão, sendo R$ 1,199 trilhão referentes ao Valor Adicionado a preços básicos e R$ 209,0 bilhões aos Impostos sobre Produtos líquidos de Subsídios.

A taxa de investimento no primeiro trimestre de 2015 foi de 19,7% do PIB, abaixo do observado no mesmo período do ano anterior (20,3%). A taxa de poupança foi de 16,0% no primeiro trimestre de 2015 (ante 17,0% no mesmo período de 2014).

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¹ Engloba as seguintes atividades: serviços de alojamento em hotéis e similares; serviços de alimentação; serviços profissionais, científicos e técnicos; pesquisa e desenvolvimento mercantil; aluguéis não-imobiliários; outros serviços administrativos; educação mercantil; saúde mercantil; serviços de artes, cultura, esporte e recreação e serviços pessoais; serviços associativos; manutenção de computadores, telefonia e objetos domésticos; e serviços domésticos.