Economy in Brazil improves drastically in Q3 surpassing experts’ expectations. Also, Services sector expands in this third quarter.
Brazil’s economy fast growth
Brazil’s economy increased by 0.6 per cent in the third quarter of 2019. These figures beat experts’ expectations and bolster hopes of a cyclical improvement in Latin America’s largest country.
Compared to the same quarter last year, economy grew by 1.2 per cent above analysts’ expectations of 0.9 per cent.
Services sector expands
Services sector activity in Brazil expanded in October more than analysts had expected, figures on Thursday showed, indicating that overall growth in Latin America’s largest economy continued to accelerate going into the year end.
The Services sector activity rose a seasonally adjusted 0.8% in October from the previous month. According to government statistics agency IBGE, the second consecutive solid increase and much stronger than the no-change economists had expected.
On a non-seasonally adjusted basis, the services sector activity in October increased by 2.4% compared with the same period in 2018, IBGE said, also more than the 1.4% median increase economists in a Reuters poll had predicted.
Northeast Brazil is an established property market for domestic buyers and a growing market for international investors. Brazilians choose the north east as their favorite holiday and second home destination due to the ideal climate, its affordability and the investment potential of owning property in the area. Strong demand comes from Brazil’s wealthy middle and upper classes. There is a clear opportunity to earn from residential real estate and tourist resorts by investing in Northeast Brazil.