Economic activity in February grew 0.6% from the previous month. In the mobile quarter ended in February, compared to that ended in November, the increase was 1.1%. In the inter-annual comparison, the economy grew 1.2% in February. In monetary terms, it is estimated that the accumulated GDP in the first two months of 2022, in current values, was R$ 1.3 trillion. The information is from the GDP-FGV Monitor released today (20) by the Brazilian Institute of Economics of the Getulio Vargas Foundation (IBRE/FGV).
The research coordinator, Juliana Trece, informed that the growth of the Brazilian economy in February can still be explained, mainly, by the performance of the service sector, which has remained, in practically every month, since the middle of last year, with interannual variation. above that seen in agriculture and industry.
“Even considering the variation in February, compared to January, the sector’s performance was also one of growth. As it was the most impacted by the pandemic, the weak basis of comparison presented in the service sector favors its current good performance”, he said.
Juliana Trece highlighted, however, that despite the results showing the service sector as fundamental to the performance of the economy at the beginning of this year, other factors may interfere with the results.
“The combo of high inflation, interest rates and unemployment may harm the sustainability of service activity growth throughout the year and, consequently, of GDP itself,” he added.
family consumption
Also in the mobile quarter ended in February, household consumption increased by 2.1% compared to the same period last year. According to the FGV, for the fifth consecutive month, the services component was the only one to present positive rates that were mainly influenced by the performance of the transport and other services segments (accommodation, food and domestic services). As for the consumption of durable goods, there was a decrease of 8.6%.
Gross Fixed Capital Formation (GFCF) rose 0.4% in the quarter between December and February, compared to the same quarter in 2021. Among the components, only machinery and equipment had a decrease in this comparison. According to the Monitor, the widespread declines among several segments of this component explain the performance, with emphasis on trucks, other vehicles and other machines and equipment.
Export
Exports advanced 12.5% in the moving quarter concluded in February compared to the same period last year. Exports of agricultural products were the main influences for growth. In the opposite direction, exports of products from mineral extraction showed retraction, in the same comparison.
Import
Imports dropped 2.1% in the moving quarter ending in February in a similar comparison. The performance of capital goods and intermediate goods, which fell by 20.1% and 5.7%, impacted imports. Imports of agricultural products fell by 17.8%.
