GDP Grows 1.4% in Q1 Compared to Q4 2024 and 2.9% Year-over-Year

The first quarter of 2025 marked an acceleration in the pace of growth for the Brazilian economy. The country’s Gross Domestic Product (GDP) rose 1.4% compared to the fourth quarter of 2024, according to data from the Brazilian Institute of Geography and Statistics (IBGE), released this Friday (30) as part of the Quarterly National Accounts.

The result came in slightly below the median estimate of 71 consultancies and banks surveyed by Valor, which pointed to a 1.5% growth in Q1 compared to Q4. Projections ranged from 0.3% to 1.8% growth. Only five institutions expected growth of less than 1% for the period.

Compared to the first quarter of 2024, GDP grew 2.9%, also below the 3.2% growth forecast compiled by Valor. Estimates ranged from a 0.7% to 4.6% increase.

The IBGE also revised the Q4 2024 GDP figure, which had previously been reported as 0.2% growth over the third quarter, to 0.1%.

The Brazilian Institute of Geography and Statistics (IBGE) revised the GDP growth rate for the fourth quarter of 2024.

Thus, GDP for the period from September to December, compared to the third quarter, was revised from a 0.2% increase to 0.1%.

IBGE also updated the seasonally adjusted growth rates, comparing each quarter with the immediately preceding one:

• For the third quarter of 2024, the rate was revised from 0.7% to 0.8%;
• For the second quarter, from 1.3% to 1.5%.

The growth rate for the first quarter of 2024 remained unchanged at 1%.

These revisions were published alongside the Quarterly National Accounts for Q1 2025.

Source: Valor Econômico

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