Compared to the second quarter of 2012, the GDP (Gross Domestic Product) of the third quarter grew (0.6%) in the seasonally adjusted series.  The greatest highlight was agriculture and livestock farming, which grew 2.5%, followed by the industry (1.1%). Services had no change. In contrast with the third quarter of 2011, the GDP grew 0.9% and, among the economic activities, agriculture and livestock farming (3.6%) and services (1.4%) stood out.  The industry fell 0.9%. In the accumulated in the four quarters ended in September 2012, the growth was of 0.9% in relation to the first four immediately previous quarters, whereas in the accumulated of the first three quarters 2012, the GDP grew 0.7% in relation to the same period in 2011. The GDP in current values reached R$ 1,098.3 billion.   

The complete publication is available at:

https://www.ibge.gov.br/home/estatistica/indicadores/pib/defaultcnt.shtm.

Due to the implantation of the new series of the System of National Accounts – reference 2010 (SCN – Reference 2010), the review of Q3  2012 that would incorporate the new weights of the Annual National Accounts 2010 was not carried out – since the accounts were not elaborated yet. The first results of the SCN series – Reference 2010 will be release in the end of 2014/ beginning of 2015.

A note at the IBGE website presents the motivation and technical details of the SCN project - Reference 2010.(https://www.ibge.gov.br/arquivo/noticias/SCN_referencia_2010.shtm)

In relation to Q2 of 2012, industry grows 1.1%

The GDP had a growth of 0.6% compared to the second quarter of the year. The biggest growth was in agriculture and livestock farming (2.5%). There was an increase of 1.1% in the industry, while services registered no change. 

The growth of industry was pulled by the manufacturing  industry which expanded 1.5%, and by civil construction (0.3%). Other activities dropped: mining and quarrying (-0.4%) and electricity and gas, water, sewage and urban cleaning (-0.5%).

Among services, information services (0.5%), trade (0.4%), real estate and rental activities (0.4%) and other services (0.3%) registered a growth. Public administration, health and  education (0.1%) and transportation, storage and mail (-0.1%) were stable.  Financial intermediation and insurance recorded a drop of 1.3%.

From the cost perspective, the consumption expenditure of households grew 0.9%, while the consumption expenditure of the public administration remained stable (0.1%). The gross  fixed capital formation recorded its fifth consecutive negative change rate in this type of comparison:  a drop of 2.0%. In the external sector, the exports of goods and services changed positively in 0.2%, while imports dropped 6.5%.

Compared with Q3 2011, services grow 1.4%

When compared to the same period a year ago, the GDP registered a growth of 0.9% in the third quarter of 2012. From the production perspective, agriculture grew 3.6% in this quarter in relation to the same period of 2011. The positive highlights were coffee and corn, with a growth  in the production (14.5% and 27.1%, respectively) and in the productivity as well. 

The industry, which presented a drop of 2.4% in the previous quarter, fell 0.9%. This is explained by the drops, in volume, of the value added of mining and quarrying (-2.8%) and of the manufacturing industry (-1.8%).  As to the latter, its result was influenced, mostly, by the output reduction of machinery and equipment; communication equipment and electronic materials; motor vehicles; apparel and footwear; basic metals; and electric materials. There was a growth in other industrial activities: electricity and gas, water, sewage and urban cleaning (2.1%) and civil construction (1.2%).

The services sector grew 1.4% in comparison with the same period a year ago.  Influenced by the bank spread and the Selic interest rate reduction, as well as the default rise, financial intermediation and insurance fell 1.0%, followed by transportation, storage and mail (-0,7%).   The other activities recorded a growth: Public administration, health and education (2.7%), information services (2.3%), other services (1.7%), real estate and rental services (1.5%) and trade (1.2%).

Gross fixed capital formation drops 5.6% in relation to Q3 2011

Among the components of the domestic demand, the consumption expenditure of households grew 3.4%, the 36th consecutive positive change in this kind of comparison. The behavior of the real payroll, coupled with  the increase, in nominal terms, of the balance of loans in the financial system with free resources to individuals, contributed to this result. 

The gross fixed capital formation had a reduction of 5.6% in relation to the same period a year ago.  This movement was pulled by the drop of imports and of the domestic production of machinery and equipment, as well as the deceleration of the growth rate of civil construction.

The consumption expenditure of the public administration, on the other hand, grew 3.2% in the comparison to the same period of 2011.

From the external demand point of view, both exports (-3.2%) and imports of goods and services (-6.4%) presented drops. The lowest relative decline of exports in relation to imports can be attributable to currency devaluation. 

GDP grows 0.9% in 12 months and 0.7% in the accumulated in the year

The accumulated GDP in four quarters Kept the downward trend observed in the previous quarters, reaching a high of 0.9%. The result of the  value added in this kind of comparison is due to the following performances, by activity: agriculture and livestock farming (0.8%), industry (-0.9%) and services (1.5%).

In the accumulated from January to September 2012, GDP had a growth of 0.7% in relation to the same period of 2011. In the same comparison base, Agriculture and Livestock Farming and Industry had drops of 1.0% and 1.1%, respectively, while Services grew 1.5%.

In Q3 2012, GDP reaches R$ 1,098.3 billion

In the third quarter of 2012, the GDP reached R$ 1,098.3 billion. The investment rate in the third quarter of 2012 was of 18.7% of the GDP, lower than the rate in the same period a year ago (20.0%).  This reduction was influenced, mostly, by the drop, in volume, of the Gross fixed capital formation.  The savings rate was at 15.6% in the third quarter of 2012 (against 18.8% in the same quarter of 2011).