Brazilian Economy Growth Revised To 3.7%

March 28, 2007
2007 growth is predicted to be 4.1%

Brazil's economy expanded 3.7% in 2006, based on a new method of calculation, the national statistics agency said March 27. The new calculation used by the Brazilian Institute of Geography and Statistics (IBGE) revised up the earlier estimate for 2006 gross domestic product (GDP) growth of 2.9%.

Even with the upward revisions, Brazil has been growing at a slower pace than most other emerging market economies. Growth was fueled largely by domestic demand, including consumer spending and business investment, while a rise in exports was largely offset by increased imports. Household spending was up 4.3% as incomes grew 5.6%.

The central bank said it was upgrading its outlook for 2007 economic growth to 4.1% from 3.8%. The report projected inflation for the year at 3.8% instead of 3.9%.

Copyright Agence France-Presse, 2007

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!