Brazil's Economy Grows 0.6% In Third Quarter

(@FahadShabbir)

Brazil's economy grows 0.6% in third quarter

Brazil's economy -- Latin America's largest -- grew by a better-than-expected 0.6 percent in the third quarter compared to the previous three month period, the country's statistics agency reported Tuesday

Rio de Janeiro, (UrduPoint / Pakistan Point News - 3rd Dec, 2019 ) :Brazil's economy -- Latin America's largest -- grew by a better-than-expected 0.6 percent in the third quarter compared to the previous three month period, the country's statistics agency reported Tuesday.

After stalling in the first quarter, the economy has now had two consecutive quarters of growth, with the latest result an improvement over the revised 0.5 percent growth posted in the second quarter.

It outperformed the expectations of analysts surveyed by the Brazilian economic daily Valor, who had predicted 0.

4 percent growth in the July-to-September period.

The government of far-right President Jair Bolsonaro and outside analysts both anticipate 1.0 percent growth for 2019, edging down from 1.1 percent in 2017 and a revised 1.3 percent in 2018.

That will be too little to put a dent in unemployment which currently affects 12.4 million Brazilians. But analysts expect stronger growth next year, and have raised their 2020 GDP estimates to 2.2 percent from 2.0 percent.

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