Brazil's GDP up 4.1 percent in first two months of 2011

13:43, April 14, 2011      

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Brazil's Gross Domestic Product (GDP) grew 4.17 percent in the first two months of 2011 as compared with the same period last year, showed the Central Bank's Economic Activity Indicator (IBC-Br) released on Wednesday.

The IBC-Br is considered a preview of the official GDP, whose first quarter results are expected to be released in June. The indicator is also taken into consideration when the Central Bank's Monetary Policy Committee (Copom) decides whether to make any changes in the country's annual basic interest rate Selic.

The IBC-Br reached 142.14 points in February, up 0.32 percent from January and 3.77 percent from the same period in 2010. In the March 2010 to February 2011 period, the IBC-Br accumulated a 6.83-percent rise compared with the previous 12-month period.

In 2010, Brazil's GDP grew 7.5 percent, overcoming the effects of the international financial crisis, which caused a contraction of 0.6 percent in 2009 in the country.

This year, the country's growth rate is expected to be more modest. The Institute of Applied Economic Research (Ipea) has projected a GDP growth of four to five percent for 2011, while the economists in the banking sector have forecast a four-percent growth rate.

Source: Xinhua
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