Brazilian economy rises 6 percent in 2008 first half
11/9/2008 17:43
Brazil's economic growth reached 6 percent in the first half of 2008,
surpassing experts' estimates of 5 to 5.3 percent, a study released yesterday
showed.
The study, released by the Brazilian Institute of Geography and
Statistics, said it was the best figure for a half year since the 6.6 percent
registered in 2004. It also surpassed the 4.9 percent for the first half of
2007.
According to the study, the economic growth reached 5.9 percent and 6.1
percent in the first two quarters respectively, while Brazil's GDP reached 716.9
billion reais (US$405 billion) in the second quarter, 1.6 percent up from the
first quarter.
The country's GDP for the first half of 2008 is also reported
to have seen a year-on-year jump of 6.1 percent.
The agriculture and
livestock sectors registered a 5.2 percent and 7.1 percent growth rate
separately in the first two quarters, while 6.3 percent and 5.7 percent were
registered in the industry sector, with 5.3 percent and 5.5 percent in the
service sector.
The study said high production of coffee beans, corn, rice
and soybeans in the first half of 2008 boosted agriculture and livestock
sectors. The increases of investments and consumption have also promoted the
Brazilian economy.
Brazil's Monetary Policy Committee was to decide whether
to increase Brazil's basic annual interest rate yesterday. The committee will
consider the study as an important reference for its monetary
policy.
Xinhua
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