LatinNews Daily - 2 June 2025

*Brazil’s national statistics institute (Ibge) has released the country’s GDP growth figures for the first quarter of this year, showing a rise of 1.4% from the previous quarter and a 2.9% increase compared to the same quarter last year. The accumulated GDP growth over the four quarters to Q1 2025 came to 3.5%. The latest quarterly rise was mainly driven by the agricultural sector, which posted a quarterly GDP growth rate of 12.2%. Meanwhile the services sector posted a very slight growth rate of 0.3% and the industrial sector contracted by 0.1% from the previous quarter. In a press release, the Ibge highlighted that agriculture has been aided by more favourable climate conditions, with one of the country’s main export crops – soybeans - projected to post a record harvest this year. Regarding the industrial sector, the Ibge highlighted that the slight quarterly contraction was aggravated by quarterly decreases in activities such as manufacturing and construction.

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