Brazil enjoyed growth in gross domestic product of 0.6% in the third quarter, beating analyst predictions and setting the stage for a robust recovery in 2020, the Brazilian Census Bureau (IBGE) said Tuesday. Growth was higher than the 0.4% average among economists polled by the Reuters and Bloomberg news agencies. Third-quarter GDP expanded 1.2% against the third quarter of 2018. Growth was led by agriculture, but industry and services also saw expansion. The IBGE said energy production and mining were the outstanding performers in the third quarter, with more growth expected in 2020. The IBGE also noted a sustained increase in consumer spending. Third-quarter growth was slightly higher than the 0.5% figure posted for the second quarter. The IBGE on Tuesday revised its 2018 figures, showing GDP growth for that year of 1.3%, up from the previous figure of 1.1%.
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