The GDP-FGV Monitor points to growth of 0.3% in economic activity in April compared to the previous month, considering seasonally adjusted data. In the year-on-year comparison, the economy grew 3.6% in April and 2.8% in the moving quarter ended in April.
The data were released today (21) by the Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre/FGV).
According to the research coordinator, Juliana Trece, the 0.3% growth in GDP in April compared to March is the third consecutive one, although at a lower rate than the previous ones.
“Despite the growth of agriculture and industry, the service sector stopped contributing to the GDP in the same way that it had been contributing, mainly due to the retraction of trade and transport. From the perspective of demand, household consumption also grows for the third consecutive month. The only consumer segment to decline was durable products, which may reflect the rise in interest rates and uncertainties regarding economic and political performance in the election year,” explained Juliana.
In monetary terms, it is estimated that the accumulated GDP up to April, in current values, was R$ 2.98 trillion.
family consumption
Household consumption grew 4.8% in the moving quarter ended in April compared to the same period last year. The consumption of services (7.5%), non-durable goods (2.1%) and semi-durable goods (13.3%) were responsible for this growth. On the other hand, the consumption of durable goods was the only component in decline.
investments
Gross Fixed Capital Formation (GFCF), which are investments, fell by 5.2% in the moving quarter ended in April compared to the same quarter of the previous year. This negative result was influenced by the sharp drop in the machinery and equipment component (10.7%). This component has shown negative rates since the beginning of 2022.
Export
According to Ipea, exports of goods and services grew by 1.5% in the moving quarter ended in April compared to the same period last year. Exports of intermediate goods, consumer goods and agricultural products greatly reduced their contribution to exports, which explains the lower growth in exports of goods.
Import
Imports of goods and services fell by 8.2% in the moving quarter ended in April compared to the same period last year. This drop was mainly influenced by the negative performance in the import of intermediate goods (14.5%).
