Results (
Thai) 2:
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Industry, Investments
Industrial output fell 2.5 percent in the second quarter due to declines in manufacturing, mining and civil construction, while investment declined 0.7 percent, according to the report.
“Investment fell due to the weak international scenario and domestic demand that’s also weak,” Newton Rosa, chief economist at SulAmerica Investimentos, said by telephone from Sao Paulo. “Betting on expanding production capacity is very difficult.”
Agriculture grew 4.9 percent in the second quarter, and was the leading contributor to GDP expansion. The services sector also expanded 0.7 percent and family consumption rose 0.6 percent.
“Domestic demand remains the primary support of the economy, with families’ consumption stimulated by moderated expansion in credit, by the generation of jobs and revenue,” central bank President Alexandre Tombini said in a statement today.
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