Agência Brasil

Brasília - President Luiz Inácio Lula da Silva remarked yesterday (31) that the growth of the Gross Domestic Product (GDP) in the first quarter of 2006 "is excellent news."

According to Lula, the increase occurred across the board, in agriculture, industry, and the service sector. "And, what is more important, machinery and equipment imports rose. This indicates that entrepreneurs are counting on sustainable growth," he emphasized, according to information released by the presidential press and spokesman's office.

The GDP, the total of all goods and services produced in the country, was úp 1.4% in the first quarter of 2006 in comparison with the final quarter of 2005. The increase reflects growth in industry (1.7%), agriculture (1.1%), and services (0.8%). In comparison with the first quarter of 2005, the GDP was 3.4% higher. These data come from the Quarterly Bulletin of National Accounts, released yesterday by the Brazilian Institute of Geography and Statistics (IBGE).

Translation: David Silberstein