In relation to the 2 Q of 2011, only agriculture increased

The GDP remained unchanged in contrast with the previous quarter.

Agriculture stood out with a growth of 3.2%, while industry and services registered negative changes.

The fall of industry (-0.9%) was driven by the Manufacturing Industry, which registered a decrease of 1.4% in the volume of the value added.

The other industrial activities recorded positive changes in contrast with the immediately previous quarter. Mining and quarrying (0.9%), Electricity and gas, water supply, sewerage and urban cleaning (0.8%) and Construction (0.2%).

Among the services (change of –0.3%), the negative changes in volume terms were registered by Trade (-1.0%), Other services (-0.5%) and Information services (-0.3%).

Real estate services, and rental and leasing services (0.4%); Transport, storage and mail services (0.2%) and Public administration, health and education (0.1%) recorded positive changes in relation to the second quarter. Conversely, Financial intermediation and insurance grew 1.7%.

Considering expenditures, all the components of the domestic demand registered negative changes in the third quarter of this year:

government consumption expenditure (-0.7%), gross fixed capital formation (-0.2%) and household consumption expenditure (-0.1%). The positive contributor to GDP’s performance was the external sector, which registered growth in exports (1.8%) and reduction in the imports of goods and services (-0.4%).

In relation to the same quarter of 2010, agriculture is a highlight

The GDP grew 2.1% in the third quarter of 2011 in relation to the same period of 2010. The Value Added at Basic Prices rose 2.0%, and the taxes on products less subsidies grew 3.0%.

Among the activities that contributed to the value added, the highlight was agriculture, which in this quarter grew 6.9% in relation to the same period of the previous year.

This rate can be attributable to the performance of some crop products, harvested in the third quarter, that grew in productivity, such as cassava (output estimated growth of 7.3% in 2011), beans (6.1%) and orange (3.1%).

Industry, which in this base of comparison has presented a downward trend since the second quarter of 2010, grew 1.0%.

In the first two quarters of 2011, the growth rates were of 3.8% and 2.1%, respectively. Among the industrial activities, the highest growths were from Electricity and gas, water supply, sewerage and urban cleaning (4.0%) and Construction (3.8%). The performance of Construction in the quarter was driven by the rise in the employed population of the sector and by the behavior of the directed credit. The volume of the value added of mining and quarrying rose by 2.7%, driven by the rise in iron ore mining. Manufacturing Industry, in turn, recorded a drop of –0.6%, mainly influenced by the decrease in the production of automobiles, textiles, apparel, footwear and chemical products in general, with emphasis on pharmaceutical products.

The value added of services grew 2.0% in comparison with the same period of the previous year.

All the activities of this sector recorded positive changes, especially Information services, which grew 4.4%, and Financial intermediation and insurance, which rose 3.0%. Transportation, storage and mail services and Public administration, health and education increased by 2.1% and 2.0%, respectively. Trade (retail and whole) expanded 1.7%. Other services grew 1.5%. Finally, Real estate services, and rental and leasing services grew 1.4%.

Considering the domestic demand, household consumption expenditure rose 2.8%, the thirty-second consecutive positive change in this base of comparison.

One of the contributors was the behavior of the real volume of salaries, which rose 2.6% in the third quarter of 2011 according to the Monthly Employment Survey. In addition, according to the Central Bank, there was an increase of 18.3% in the third quarter of 2011, in nominal terms, in the balance of credit operations of the financial system for consumer credit. Government consumption expenditure grew 1.2% in the comparison with the same period of 2010.

The gross fixed capital formation (GFCF or planned investment), in turn, expanded 2.5% in relation to the same period a year ago.

The main contributing factors were the performance of Construction and the expansion of the domestic output of Machinery and Equipment.

Considering the external demand, exports and imports of goods and services registered a growth in this comparison, 4.1% and 5.8%, respectively.

The currency appreciation may explain the higher growth of imports. The main contributing import products were vehicles; electronic equipment; electrical material; textiles; apparel and footwear; mining and quarrying; plastic; and chemical products.

In 12 months, GDP grows 3.7%

The GDP at market prices accumulated in the four quarters finished in the third quarter of 2011 grew 3.7% in relation to the four immediately previous quarters. That was attributable to the rise of 3.3% of the value added at basic prices and of 6.1% of the taxes on products.

Among the economic activities, services grew 3.6%, industry, 2.9% and agriculture, 2.7%. 

GDP expands 3.2% in the accumulated indicator in 2011 up to September

The GDP at market prices in the accumulated index in 2011 grew 3.2%, in relation to the same period of 2010. In this base of comparison, the volume of the value added of services grew 3.2%, followed by agriculture (2.8%) and industry (2.3%).

In the quarter investment rate reaches 20.0% of the GDP

The investment rate in the third quarter of 2011 was of 20.0% of the GDP, lower than the rate in the same period a year ago (20.5%).

The savings rate reached 18.8% in the third quarter of 2011, against 19.6% in the same quarter of 2010.

In the result of the third quarter of 2011, the demand for loans reached R$ 19.7 billion against R$ 24.9 billion in the same period a year ago.

The gross national income reached R$ 1 028.7 billion against R$ 949.0 billion in the same period a year ago; and, in the same comparison, the gross savings rate reached R$ 196.9 billion, against R$ 188.9 billion in 2010. 

Compared to the second quarter of 2011, the GDP (Gross Domestic Product) at market prices of the third quarter remained unchanged (0.0%) in the seasonally adjusted series.

The highlight was agriculture, with an increase of 3.2% in the volume of the value added. Industry and services registered negative changes: -0.9% and –0.3%, respectively.

In contrast with the third quarter of 2010, the GDP grew 2.1% and, among the economic activities, agriculture (6.9%), followed by services (2.0%) and industry (1.0%), stood out.

In the accumulated indicator of four quarters, finished in the third quarter of 2011 (12 months), the growth was of 3.7% in relation to the immediately previous four quarters.

In the accumulated indicator in 2011 up to September, the GDP expanded 3.2%. The GDP at current values reached 1.05 trillion.

In every third-quarter annual publication, the Annual National Accounts are revised for the inclusion of the new weights of the previous two years.

The alterations are presented in the publication and the methodological notes are available at IBGE’s website in advance. For further information, access the complete publication:

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