The positive variation of Gross Domestic Product (GDP, the sum of goods and services produced in the country in a year) of 0.4%, from the second to the third quarter, was influenced by the results of services (1.1%) and industry (0.8 %), while agriculture fell by 0.9%. 
The data are from the System of Quarterly National Accounts, and were released today (1st), in Rio de Janeiro, by the Brazilian Institute of Geography and Statistics (IBGE).
According to the survey, with the result, the GDP reaches the highest level of the historical series, started in 1996. In comparison with the previous quarter, it is the fifth positive rate of the indicator. GDP totaled R$2.544 trillion in current values in the third quarter.
In addition to reaching the highest level in the series, GDP was 4.5% above the pre-covid-19 pandemic level, recorded in the fourth quarter of 2019.
information and communication
According to the IBGE, in services, a sector that accounts for around 70% of the economy, the highlights were information and communication (3.6%), with an increase in development services software and internet, financial activities, insurance and related services (1.5%) and real estate activities (1.4%). The segment other service activities (1.4%), which represents around 23% of total services, and includes, for example, accommodation and food, also grew.
“The other service activities have been recovering for some time, with the resumption of face-to-face services that had a dammed demand during the pandemic,” said, in a note, the coordinator of National Accounts at the IBGE, Rebeca Palis.
The only segment of services that was in the negative field, trade changed -0.1% in the third quarter. “This is a scenario that we have already observed in the IBGE Monthly Commerce Survey. The result reflects the reallocation of household consumption from goods to services,” said Rebeca.
Construction, which is among the industrial activities, advanced 1.1% in the period. “This activity had already been growing for four quarters and continues to increase, including in occupancy. Another highlight of the sector is electricity and gas, water, sewage, waste management activities (0.6%), an activity that benefited from the reduction in thermoelectric energy”, said the researcher.
After three quarters with positive rates, agriculture fell by 0.9%. In the accumulated result for the year, the agricultural sector fell 1.5%. “The retraction is explained by the crops that have a relevant harvest in this quarter and had a drop in production, as is the case of sugarcane and cassava. In the year, the sector’s performance is linked to the results of soy, our main crop, which had its production affected by climate problems”, informed Rebeca.
From the perspective of expenditure, investments (Gross Fixed Capital Formation) grew by 2.8% compared to the second quarter. Household consumption increased by 1%, while government consumption grew by 1.3%.
household consumption
Household consumption grew for the sixth consecutive quarter. Compared to the third quarter of 2021, the increase was 4.6%. In the same period, government consumption grew by 1.0%.
“This growth is related to the positive results of the labor market, in relation to income and occupation, to government aid, such as Auxílio Brasil, Auxílio Taxista and Auxílio Caminhoneiro, to tax relief policies and to a lower inflation, even that is still high”, said Rebeca.
Also from the perspective of demand, investments grew 5%, influenced by the rise in construction, development of software and also the production and importation of capital goods.
Compared to the third quarter of 2021, GDP increased by 3.6%. Agriculture grew 3.2%, and industry, 2.8%. The industrial sector was impacted mainly by electricity and gas, water, sewage, waste management activities (11.2%), benefited by green tariff flags. Other outstanding activities in the sector were construction (6.6%) and transformation industries (1.7%).
According to the IBGE, in the same comparison, services increased by 4.5%, with emphasis on other service activities (9.8%) and transport, storage and mail (8.8%) and information and communication (6.9% ).
