The Gross Domestic Product (GDP) fell 0.5% in the comparison between Q2 and Q3 2013, in the seasonally-adjusted series. Versus the same period in 2012, there was growth of 2.2%. The cumulative GDP result relative to the four-quarter period ending in Q3 2013 grew 2.3% when compared to the four immediately previous quarters. The cumulative result of 2013 until September shows growth of GDP by 2.4% in relation to the same period of 2012. At current values, GDP in Q3 2013 reached R$ 1,213.4 billion.

The complete publication is available at www.ibge.gov.br/english/estatistica/indicadores/pib/defaultcnt.shtm

Due to the implementation of a new series for the System of National Accounts – reference 2010 (SCN – reference 2010) the estimation of final results for years 2010 and 2011 has not been carried out yet. Therefore, in this release relative to Q3 2013, the quarters of year 2012 did not have their weights changed. Since Q1 2012 the Monthly Survey of Services (PMS) has been employed as an additional source for some subsectors of Service activities. Besides that, the recalculation of year 2012 also incorporated PNAD 2012, the Municipal Agricultural Survey of 2012 and revisions of primary data which reached the compilation of 2013 quarters.

Other details about the revisions can be seen at https://www.ibge.gov.br/home/disseminacao/destaques/2013_11_07_revisao_cnt.shtm 

In comparison with Q2 2013, agriculture falls and industry and services remain stable

The Gross Domestic Product (GDP) fell 0.5% in the comparison between Q2 and Q3 2013, in the seasonally-adjusted series. Agriculture fell 3.5%. Industry (0.1%) and services (0.1%) remained almost unchanged. Among the subsectors which form industry, mining and quarrying (2.9%) and electricity and gas, water, sewage and urban cleaning (0.9%) recorded positive results. On the other hand, there were decreases in manufacturing industry (-0.4%) and civil construction (-0.3%). In services, there was increase in transportation, storage and mailing (0.8%), administration, health and public education (0.8%) and information services (0.7%). Trade (0.0%) was stable. The other activities faced decrease of volume in comparison with the previous quarter: other services (-0.4%), financial mediation and insurance (-0.2%) and real estate and rental services (-0.2%).

Considering demand, gross fixed capital formation (GFCF) fell 2.2% in relation to the immediately previous quarter. Household consumption increased 1.0%, on the other hand. From the perspective of expenditure, households (1.0%) and the government (1.2%) recorded increase over the second quarter of the year. GFCF faced decrease (2.2%).  With reference to the foreign sector, both exports (-1.4%) and imports (-0.1%) recorded negative results. 

Compared with Q3 2012, services and industry record increase

In comparison with the same period in the previous year, GDP recorded increase of 2.2% in the third quarter of 2013. From the perspective of production, agriculture fell by 1.0% in relation to the same period in the previous year. The negative change can be seen, mainly, as a consequence of the performance of some agriculture products which have significant crops in the third quarter, such as oranges (-14.2%), cassava (-11.3%) ad coffee (-6.9%).  

Industry increased 1.9%, with positive results in all the activities which are part of it.  Mining and quarrying increased 0.7%, whereas manufacturing industry grew 1.9%. The result was influenced by the increase of production of machinery and equipment; electric machinery and apparatus; electronic material; medical and hospital products and automotive industry.  

Civil construction also recorded increase of 2.4%, being affected by the increase of the balance of credit operations of the financial system with resources aimed at real estate financing (for natural and legal persons):  expansion of 33.8%, in nominal terms, in the third quarter of 2013. Electricity and gas, water, sewage and urban cleaning increased 3.7%, affected by the residential consumption of electricity.  

Value added of Services increased 2.2% in relation to that in the same period of the previous year.  All the activities which form it recorded positive changes. Transportation, storage and mailing (which encompass cargo and passengers) increased 5.0%, followed by information services (4.6%), financial mediation and insurance (2.6%), administration, health and public education (2.5%); trade (wholesale and retail) (2.4%), and real estate and rental services (2.1%). The activity Other services, which, besides services rendered to companies, encompasses services rendered to families, market health, market education, lodging and feeding services, associative services, domestic services, maintenance and repair services, changed 0.2% in the quarter.

Gross fixed capital formation increases 7.3% in relation to Q3 2012

Among the components of internal demand, gross fixed capital formation (GFCF) increased 7.3%, as a result of the bigger internal production of capital goods. After recording decrease in the four quarters of 2012, GFCF presents the third consecutive positive result.

The consumption expenditure of families increased 2.3%, being the 40^th consecutive positive change on this basis for comparison. One of the factors accounting for this result was the behavior of real salary volume, which rose by 2.1% in Q3 2013. Besides, there was increase, in nominal terms, of the balance of credit operations of the financial system with free resources for natural persons, of 8.1% in the third quarter of 2013. Government consumption expenditure also increased 2.3% in comparison with the same period in 2012.  

With reference to the foreign sector, both exports (13.7%) and imports (3.1%) recorded increase.   

GDP grows 2.4% in terms of the cumulative index in the year and 2.3% in 12 months

GDP from January to September 2013 increased 2.4%, compared to that of the equivalent period in 2012, with rises in agriculture (8.1%), industry (1.2%) and services (2.1%).  

The increase of the four-month cumulative GDP, after reaching 0.9% in Q3 2012, accelerated until it reached 2.3% in Q3 2013, with rises in agriculture (5.1%), industry (0.9%) and services (2.3%).  

In Q3 2013, GDP reaches R$ 1,213.4 billion

In Q3 2013, GDP reached R$ 1,213.4 billion. The investment rate of 2013 was 19.1% of the GDP, above the rate relative to the same period in the previous year (18.7%).  This increase was mainly influences for the increase, in terms of volume, of gross fixed capital formation in the quarter.  The savings rate was 15.0% in the third quarter of 2013 (versus 15.3% in the same quarter a year before).