The Economy

Brazil's Economy Grew 10% in Q3

Nov. 10, 2009

Government sees 4% - 5% growth for 2010

Confirming its bounce back from recession, Brazil's economy posted 8% to 10% growth in the third quarter compared to the same July-September period in 2008, Finance Minister Guido Mantega said on Nov. 10.

For all of 2009, the country's economy is expected to show a meager 1% expansion after a sharp first-half decline triggered by the global financial crisis that hit Brazilian industry and exports hard.

But, Mantega said, the strong pace of recovery suggested Brazil could look forward to "4% to 5%" growth per year going forward, with 2010 already set to show a full recovery.

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