Brazil's economy is picking up. During the second quarter, the country's gross national product (GNP) increased by 1.4 percent compared to the previous quarter. This was a significantly better figure than the market had expected, while the growth during the first quarter was revised upwards from 0.8 to 1.0 percent.
The growth in South America's largest economy is welcome news for President Luiz Inacio Lula da Silva and is primarily linked to an upswing in the industrial sector. Another positive message is also that the country's unemployment is now decreasing.
During the last quarter, unemployment stood at 6.8 percent, a decrease of 1.1 percentage points compared to the same period in 2023.
