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Brazil Achieved Growth Above The United States And Equal To China. The Performance Impresses, Highlighting The Expansion Of Investments And The Strengthening Of Family Consumption. According To The Government, 2024 Should Close With Growth Above 3.3%,
The Gross Domestic Product (GDP) of Brazil showed, according to the government, good performance in the third quarter of 2024, registering a growth of 0.9% compared to the previous quarter.
The result, announced by the Ministry of Finance and the Brazilian Institute of Geography and Statistics (IBGE), put Brazil ahead of the United States, which grew by 0.7%, and on par with China, which also recorded 0.9%.
According to the Brazilian government, in an official statement that can be read by clicking here, the advance is a reflection of a set of factors, such as the warming of the labor market, increased investments, and good performance in strategic sectors like civil construction and service provision.
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With an investment of R$ 612 million, a capacity to process 1.2 million liters of milk per day, Piracanjuba inaugurates a mega cheese factory that increases national production, reduces dependence on imports, and repositions Brazil on the global dairy map.
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Brazilian city gains industrial hub for 85 companies that is equivalent to 55 football fields.
The Brazilian performance was one of the best among G20 countries, surpassed only by India (1.1%), Indonesia (1.0%), and Turkey (1.0%).
Quarterly Data Shows Solid Progress
According to the Secretariat of Economic Policy (SPE), the 0.9% GDP growth in the third quarter was slightly above market projections, which expected 0.8%.
The Ministry of Finance highlighted that Gross Fixed Capital Formation, which measures investments in capital goods and infrastructure, recorded a significant increase of 10.8% in the period, consolidating the sector as one of the main contributors to economic expansion.
For example, civil construction continued to show solid growth, driven by private investments and increased production of construction materials.
The manufacturing industry also reported positive results, contributing to the overall economic performance of the country.
Family Consumption Keeps The Economy Heated
Another strong point of the quarter was the growth in family consumption, which rose by 1.5% compared to the previous quarter.
This result reflects the increase in real wage mass and greater credit availability for individuals.
According to the SPE, the resilient labor market was essential in sustaining the purchasing power of families, ensuring that consumption remained one of the main drivers of the economy.
Moreover, the services sector, which accounts for a significant part of GDP, recorded growth of 0.9%, close to the performance of the previous quarter.
Commerce and other service activities were highlights, driven by a favorable economic environment and increased domestic demand.
International Comparison Puts Brazil In Spotlight
On the international scene, Brazil’s performance in the third quarter of 2024 caught attention.
With a growth of 0.9%, the country surpassed advanced economies such as the United States (0.7%) and Japan (0.6%).
Brazil also matched China’s performance, establishing itself as one of the standout countries among the world’s largest economies.
According to the Brazilian government, growth above the G20 average reinforces the resilience of the national economy even in a context of global slowdown and high interest rates.
According to the SPE, public policies adopted in recent years contributed to creating a favorable environment for growth, especially for investments in strategic sectors.
GDP Projections For 2024 And 2025
The expectation for GDP in 2024 is also optimistic. The Ministry of Finance revised its growth projection upward, which should exceed 3.3% by the end of the year.
This figure is higher than initially predicted at the beginning of 2024, highlighting the strength of the economic recovery.
For 2025, the forecast is for a slight slowdown, with growth focused on less cyclical sectors, such as agriculture and mining production.
According to the government, these segments should play an important role in mitigating the impacts of the global landscape, marked by high interest rates and economic slowdown in various countries.
Detailed Sectoral Analysis
Agriculture: The agricultural sector, despite its relevance to the Brazilian economy, recorded a retraction of 0.9% in the third quarter, an improvement compared to the 1.3% drop in the second quarter.
This slowdown was less impactful due to the reduction in the weight of soybean and corn crops during the period.
Industry: The industry grew by 0.6%, driven by civil construction and the manufacturing industry.
However, extractive production decreased, contributing to a slowdown compared to the previous quarter.
Services: The services sector maintained its growth pace, rising by 0.9%, reflecting the expansion in activities such as commerce, transport, and various services.
The strong performance of the sector reflects the increase in domestic consumption and improvement in the labor market.
Foreign Trade
On the external side, Brazilian exports decreased by 0.6% in the third quarter, after a growth of 1.5% in the previous period.
The decline reflects lower demand for agricultural and industrial products, as well as services.
On the other hand, imports grew by 1.0%, decelerating from the 7.3% increase recorded in the second quarter.
This movement is explained by the increase in purchases of capital goods and manufactured products.
For some specialists, the results of the third quarter of 2024 show that the Brazilian economy is in a phase of robust expansion, even in the face of internal and external challenges.
The 0.9% growth during the period, exceeding that of the United States and matching China, reinforces Brazil’s prominence in the global economic scenario.
With positive prospects for 2024 and 2025, the country seeks to consolidate its growth with a focus on investments, innovation, and strengthening domestic consumption.
The question now is: will Brazil be able to maintain this pace and once again surpass major economies in the coming years?
Creio que se for mantida a linha econômica que até o momento tem resistido aos boicotes do BC elevando a taxa de juros continuaremos a crescer sim mas, é necessário que a tática do BC para provocar um recessão com as altas exageradas e sem justificativas do juros é preciso rever as metodologias aplicadas pelo governo para que continuemos nessa crescente.
Meus Deus que notícia manipulada. Aumento do consumo das famílias, o governo retira da economia brasileira e impulsiona o consumo sem haver crescimento sólido. Desta forma aumento o déficit nas contas públicas, aumento inflacionários dos preços . Que lástima, alguém vai pagar essa conta.
Puxa.. até que enfim está redação tomou vergonha e se tornaram brasileiros que honram o País , seja lá quem for os gestores. Parabéns a Equipe do Presidente Lula , devem sempre se referir como Presidente Lula, respeitado no G20 pelos melhores gestores globais.
Uma sugestão para está equipe de jornalismo, continuem defendendo o seu País , isto trás melhoria mental e crescimento perante o leitor.