Brazil’s economy is strengthening; Bolsonaro hails GDP report

Brazil’s economy is no longer stalling and should continue “on the right track” expanding into the end of the year as Black Friday and Christmas sales spur consumer spending, the Ministry of the Economy and President Jair Bolsonaro said on Tuesday.

With figures showing a faster pace of growth than expected in the third quarter, the ministry said the outlook for Latin America’s largest economy is brigtening, while Bolsonaro also tweeted his satisfaction.

“The slowdown in economic activity is behind us, and the economy is now growing more vigorously,” the ministry’s economic policy secretariat said in a statement. “Today’s figures show the economy heating up, which should be reinforced later this year. Christmas 2019 should be the best of recent years.”

Brazil’s gross domestic product (GDP) grew by 0.6 percent in the July-September period, according to official figures released on Tuesday, faster than the 0.4 percent predicted in a Reuters poll of economists and the strongest growth since early last year.


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