GDP: Even the "1%" is starting to be "in danger"
"The outlook for the Brazilian economy, which began the year with a 'dreamy' 3%, has already dropped, according to official government figures, to around 1,5%. In the real world, many people already doubt it will reach 1%. In other words, zero, in practice," says Fernando Brito of Tijolaço.
By Fernando Brito brick The Brazilian Institute of Geography and Statistics (IBGE) released today the results for the services sector in Brazil for the month of May.
The 3,8% drop, unlike what happened in the industrial sector, weighs heavily in the Gross Domestic Product calculations: it represents 73% of the total economic activity.
In 2018, and over the last 12 months, the accumulated figures returned to clearly negative levels, standing at -1,3% compared to the period from January to May.
Among the subsectors, only the financial intermediation sector (banks) has a positive result, and even then, only by 1%.
The outlook for the Brazilian economy, which began the year with a "dreamy" 3%, has already dropped, according to official government estimates, to around 1,5%.
In the real world, many people already doubt it will reach 1%.
In other words, zero, in practice.