Brazil's economy grows in second quarter

Rio de Janeiro, Aug 31 (IANS) Brazil's GDP grew 1.5 percent in the second quarter of 2013 compared to the previous three months, according to official statistics.

The figure marked a year-on-year GDP growth of 3.3 percent, Xinhua cited the Brazilian Institute of Geography and Statistics as saying Friday.

The agricultural industry led the surge with a 3.9-percent growth, while manufacturing and the service industry followed with 2 percent and 0.8 percent.

Also during the period, investments rose 3.6 percent quarter over quarter, while private consumption edged up to 0.3 percent, still weak but better than the zero growth in the first quarter.

Between April and June, exports grew 6.9 percent, while imports increased by 0.6 percent, thanks to the real's devaluation against the US dollar.

Matches