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article imageBrazil GDP up 1.3% in first quarter

By Christopher Bates     Jun 6, 2011 in Business
As announced by the Brazilian government this past Friday, the country’s GDP rose 1.3% (compared to the previous quarter) following the first quarter of 2011.
The rate also jumped a staggering 4.2% in comparison to the first quarter of 2010.
After disclosed numbers were analyzed, it became apparent that the farming segment had a huge impact on the increase, with individual growth of 3.3%. Growth for the industrial segment stood at 2.2%. All percentages were in comparison to the last quarter of 2010.
The IBGE (Brazilian Institute of Geography and Statistics) reported that investments accounted for 18.4% of GDP during the first quarter – higher than the same period in 2009 (16.3%) and 2010 (18.2%), although 1% lower than 2008 (18.5%).
In an attempt to continue growth, the Brazilian government intends to make $30 billion in spending cuts during 2011, while tightening access to credit.
More about Brazil, GDP, gross domestic product, Growth, Economy
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