Brazil's GDP Grows 7.5%, Highest in 24 Years

Brazil's Gross Domestic Product finished 2010 with growth of 7.5% against 2009, the highest increase since 1986, when the index also rose 7.5%, according to data released by the Brazilian Institute of Geography and Statistics (IBGE) . In 2009, the year that the Brazilian economy suffered negative effects of global crisis, Brazil's GDP had fallen by 0.6% against 2008.

Also according to the institute, the 2010 GDP at current value totaled R$ 3.675T, or about USD $2.3T.

The Brazilian economy grew by 0.7% in the fourth quarter of last year against the third quarter of 2010. Compared to the fourth quarter of 2009, GDP increased by 5% in the fourth quarter of 2010. The results also came within the range of expectations.

Household consumption in high

Household consumption, according to IBGE, registered an increase of 2.5% in the fourth quarter of 2010 compared to the third quarter of that year. In comparison with the fourth quarter of 2009, household consumption rose 7.5% in the last three months of last year, closing 2010 with growth of 7%.