Financial Times FT.com

Brazil surprises markets with fast growth

By Raymond Colitt in São Paulo

Published: August 31 2004 21:52 | Last updated: August 31 2004 21:52

The Brazilian economy continued to grow at a fast pace in the second quarter, according to official data that surprised financial markets and boosted the confidence of the left-leaning government.

Gross domestic product grew at an annualised rate of 6 per cent in the three months to the end of June, the government statistics bureau (IBGE) said on Tuesday. That exceeded forecasts of about 5 per cent.

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