GDP (Gross Domestic Product) at market prices grew by 0.8% in the comparison between the first and the second quarters of 2011 (seasonally adjusted series). The highlight was services (increase of 0.8% in volume of value added), followed by industry (0.2%). Agriculture recorded negative change (-0.1%).

Over the second quarter of 2010, GDP grew by 3.1% and, among the economic activities, the highlight was the increase recorded by services (3.4%), followed by industry (1.7%). Agriculture remained unchanged (0.0%).

Considering the figure accumulated in the four-quarter period ending in the second quarter of 2011 (12 months), there was growth of 4.7% in relation to the four immediately previous quarters. In the first semester, GDP recorded increase of 3.6%. GDP at current values reached R$ 1.02 trillion in the second quarter.

Services lead increase over Q1 2011

Compared to the 1st quarter of 2011, the increase of services was 0.8%. The biggest increases in this sector were those of information services (1.9%), financial mediation and insurance (1.6%) and trade (1.1%). The volume index of other services increased by 1.0%, followed by administration, health and public education (0.6%), transportation, storage and mailing (0.1%) and real estate activities and rent (0.1%).

In Industry (0.2%), the expansion of 2.2% presented by mining and quarrying industry was compensated by the behavior of manufacturing industry, which recorded null change in this quarter. The volume indexes of value added of electricity and gas, water, sewage and urban sanitation and construction, on the other hand, recorded increase of 1.5% and 0.5%, respectively. 

Considering components of external demand, gross fixed formation of capital (or planned investment) recorded increase of 1.7% in the second quarter of 2011. After having increased by 0.7% in the first quarter, household expenditure accelerated once more and increased by 1.0%. Government expenditure was up 1.2% over the previous quarter.

In terms of external demand, both Exports of goods and services and Imports of goods and services recorded expansion, of 2.3% and 6.1%, respectively, after facing decrease in the previous quarter.

Services are also highlight in relation to the same quarter of 2010

GDP grew by 3.1% in the second quarter of 2011 in relation to the same period of 2010.

Value added of services increased by 3.4% in comparison with the same period in the previous year. Except for information services, which grew by 5.5%, all the other activities which form it recorded, in this 2^nd semester of 2011, lower growth rates when compared to those in the 1^st quarter. Besides information services, other highlights were trade (4.9%), financial mediation and insurance (4.5%), and transportation, storage and mailing (3.5%). There was also increase in Other services (3.4%), Administration, health and public education (2.5%) and Real estate services and rent (1.4%).

In Industry (1.7%), all the industrial activities recorded deceleration of increase. The biggest increases occurred in electricity and gas, water, sewage and urban cleaning (3.4%) and mining and quarrying industry (2.7%). Construction, on the other hand, after having increased by 5.2% in the previous quarter, recorded expansion of 2.1% in the 2^nd quarter of 2011. There was expansion of 1.2% in the volume of value added of Manufacturing industry, a result mainly affected by the bigger production of medical and hospital instruments, pharmaceutical products and other transportation equipment. Among the major decreases, the main ones were faced by beverages, textiles and footwear and leather articles.  

Agriculture recorded null change, after having grown by 3.1% in the previous quarter. Although agriculture has contributed positively to the performance of the sector, the estimates for livestock and agriculture and logging indicate a weak behavior of these activities in the quarter.

In terms of internal demand, the highlight in relation to the second quarter of 2010 was gross fixed formation of capital, which rose by 5.9%, in spite of having decelerated over the pervious quarter (8.8%). Among the factors which account for this performance, the main highlight is the positive effect generated by the expansion of exports of machinery and equipment.

In this same comparison, household expenditure increased by 5.5%, its thirtieth consecutive positive change. Among the factors that contributed to this result, it is possible to highlight the increase of the real volume of salaries and of the balance of credit operations of the financial system with free resources to natural persons. Government expenditure, on the other hand, grew by 2.5% over the figure in the first quarter of 2010.

Considering external demand, both exports (6.0%) and imports of goods and services (14.6%) recorded increase.  The higher value of currency helps understand helps understand the bigger relative increase of imports. The products imported products which most contributed to this result were machinery and equipment; automobile industry; non-metallic minerals; chemical products; textiles and apparel.

GDP increased by 4.7% in 12 months

GDP at market prices accumulated in the four quarters ending in the second quarter of 2011 grew by 4.7 % over the four immediately previous quarters, as a result of the 4.1% rise of value added at basic prices and of the 8.7% increase of excise tax. Among the economic activities, industry grew by 4.4%, agriculture, by 2.6%, and services, by 4.2%.

GDP grows by 3.6% in the first quarter

GDP at market prices grew by 3.6% in the first semester of 2011, over the same period of 2010. Considering this comparison basis, the volume of value added of Services increased by 3.7%, being followed by Industry (2.6%) and Agriculture (1.4%).

Investment rate in the quarter reached 17.8% of the GDP

The investment rate in the second quarter of 2011 was 17.8% of the GDP, that is, below the rate of the same period in the previous year (18.2%). Savings rate reached 18.1% in the second quarter of 2011, versus 17.8% in the same quarter of 2010.

In the result of the second quarter of 2011, net lending reached R$ 20.5 billion versus R$ 24.6 billion in the same period as in the previous year. Gross National Revenue reached R$ 1,004.2 billion versus R$ 886.9 billion in the same period as in the previous year, and, in this same comparison, Gross Savings reached R$ 185.4 billion, versus R$ 161.6 billion in 2010.