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Brazil's GDP grows 1.2% YOY in Q1 2018

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Brazil's GDP grows 1.2% YOY in Q1 2018

Brazil's GDP grew 1.2% in the first quarter of 2018 compared with the same period last year, according to data from government statistics agency IBGE. In the year-over-year period, agriculture fell by 2.6% and construction by 2.2%, while industry rose 1.6%.

On a quarter-over-quarter basis, the country's GDP expanded 0.4%, which represents the fifth consecutive positive figure, the agency said.

In the first quarter, agriculture grew 1.4% compared to the fourth quarter of last year, whereas the industry and services sector registered a positive change of 0.1% between the linked periods.

Meanwhile, household consumption grew 2.8% in the first quarter of 2018 from a year ago, "posting the fourth consecutive quarter of advance compared with the same quarter a year ago," IBGE said.

"The cumulative GDP over four quarters increased 1.3% in relation to the immediate previous four quarters. The investment rate reached 16.0% of the GDP, above that reported in the same period of 2017 (15.5%)," the agency said in a May 30 statement.