The change in relation to the same quarter in 2005 was 3.2%. The Gross Domestic Product accumulated growth of 2.3% in the last four quarters, and of 2.5% in the year, always in comparison with the equivalent previous period.

In the third quarter of 2006, GDP at market prices grew by 0.5% in relation to the second quarter, in the seasonally adjusted series. Among the sectors which form GDP, Agriculture/Livestock had the best result, with 1.1% of growth, followed by Industry (0.6%), whereas the Services sector had change of 0.4%.

In relation to the components of demand, it is necessary to highlight the 2.5% increase of Gross Formation of Fixed Capital, after a semester with change of -0.2% (second quarter versus first quarter /2006). Besides, considering the internal demand, Family Consumption has had positive change (0.5%) for the thirteenth consecutive quarter. Government Consumption was stable (0.1%). In the external sector, Exports and Imports of Goods and Services increased again considering this type of comparison (8.6% and 8.5%, respectively).

GDP grows by 3.2% in relation to the equivalent quarter in 2005

GDP at market prices grew by 3.2% in the third quarter of 2006, in comparison with the same period in 2005. The Value Added at Basic Prices increased by 3.1% and the Excise Tax, by 4.1%, especially due to the performance of Imports of Goods and Services, which caused increase of Taxes on Imports.  

Still in relation to the equivalent quarter in 2005, among the sectors which form Value Added, Agriculture has had the biggest growth (7.8%), with Industry (3.0%) and Services (2.2%) in second and third positions.

The growth of Agriculture/Livestock, in 2006, was due to due the presence of products such as coffee (22%) and sugarcane (8%), according to IBGE’s Systematic Survey of Agricultural production. Another important factor was the positive performance of Livestock in this quarter.

Similarly to the previous quarter, the highlight in Industry was Construction (5.5%). Mining and quarrying Industry grew by 3.6% in relation to the first quarter of 2006 (12.6%) and in the fourth quarter of 2005 (12.1%). The growth of Mining and Quarrying Industry is accountable to the performance of its two main products: Iron Ore (9.5%) and Petroleum and Gas (2.9%).

The Services sector increased by 2.2% in relation to the same period in the previous year, and its main highlight was Trade (3.4%), followed by Financial Institutions (3.1%) and Transportation (2.7%). The results for the others subsector were: Other Services (2.4%), Public Administration (1.9%), rents (1.7%). On the other hand, the  decline of Communications (-0.7%) is accountable to the reduction of Fixed Telephony, once Mobile Telephony has grown again, after having been stable for one quarter.

Family Consumption has increased since the fourth quarter of 2003

In relation to the same quarter in the previous year, Family Consumption (3.4%) has had its second consecutive increase, since it was last in decline in the third quarter of 2003 (-1.9%). One of the factors accounting for this result was the hike of 4.6% of the salary mass in the quarter, due to the favorable performance of both Employed persons (1.9%) and of Average Real Income Usually Earned (1.9%), in comparison with the same period in 2005. Besides, there was nominal increase of 28.1% in the balance of credit operations for physical persons.²

Government Consumption increased by 2.0% in relation to the same period in 2005. Gross Formation of Fixed Capital (6.3%) has had a rate above that of the second quarter (2.9%). It is important to mention that, in the third quarter, the average of the Selic rate (14.6% a year) was lower than in the third quarter of 2005 (19.7% a year).

After having fallen 0.6% in the second quarter, Exports of Goods and Services also continued to grow (20.0%), especially in the automotive industry, metallurgy industry and industry of electric material and electronic appliances. For the third consecutive quarter, Imports surpassed Exports, a situation which had not occurred since the end of 2003.

GDP has accumulated 2.3% in the last four quarters, in relation to the four immediately previous quarters. This is due to the rise of Value Added (2.1%) at basic prices and the increase of 3.6% of Excise Tax.  

GDP accumulated in the year is 2.5%

From January to September 2006, GDP has grown by 2.5% in relation to the same period as in 2005. In the same comparison, Industry, Agriculture/Livestock and Services have grown by 2.7%,2.5% and 2.3%, respectively.

The four subsectors of Industry presenting accumulated growth in the year are: Mining and Quarrying Industry (5.6%), Construction (5.0%), Public Utilities (3.0%) and Manufacturing Industry (1.4%).

In the Services sector, Trade (3.5%) and Other Services (2.7%) have  had the biggest increase. There was also growth of Financial Institutions (2.5%), Transportation (2.4%), Rents (2.2%) and Public Administration (2.0%). The subsector of Communications (-1.2%) faced decline.

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¹According to the Monthly Employment Survey (PME/IBGE).

²According to the briefing "Monetary Politics and Credit Operations of the Financial System".