5/30/2014 4:55:27 PM
In the first quarter of 2014, Brazilian economy expanded 0.2 percent on a quarter-on-quarter seasonally adjusted basis, slowing from a revised 0.4 percent expansion in the previous period. Growth was flooded by government spending while household consumption, investment and exports fell.
Investments fell for the third consecutive quarter by 2.1 percent quarter-on-quarter and household consumption dropped 0.1 percent. Exports contracted 3.3 percent after rising 3.6 percent in the previous quarter. In contrast, government spending grew 0.7 percent and imports advanced 1.4 percent.
On the production side, industry shrank 0.8 percent, as high interest rates depressed investment. Agriculture increased 3.6 percent, recovering from a 0.5 percent decrease in the last three months of 2014 and the services sector rose at a slower 0.4 percent.
Year-on-year, the economy advanced 1.9 percent.