Brazil's Investment Sinks, and GDP Slows
The country's economy grows 1.1% in 2019, the third year of weak performance
Brazil's GDP (Gross Domestic Product) grew 1.1% in 2019, the first year of the Bolsonaro government. It was the third straight year of weak economic performance, less than half of what analysts initially projected.
In 2017 and 2018, the first release of GDP showed an expansion of 1.1% - after revisions, 1.3%. There was an increase of 0.5% in the fourth quarter compared to the previous quarter and 1.7% in comparison with the same period in 2018.
Investment in the economy plunged at the end of last year, with a retraction of 3.3% in the fourth quarter. In the year, household consumption increased less than expected (1.8%), and that of the government fell (-0.4%).
Questioned by journalists at the entrance to the Palácio da Alvorada, Jair Bolsonaro mocked the result, refusing to comment. A comedian, who accompanied and imitated him, asked: "Ask what GDP is".
GDP is the measure of the country's production of goods and services in a given period.
For 2020, estimates have been revised to between 1.3% and 1.9% given the impact of coronavirus on global activity.
Translated by Kiratiana Freelon