Brazilian economy reports strong growth in year to September

The Brazilian economy experienced growth of 6.3 per cent in the 12 months to September 2008, it has been revealed.

Recently released figures from the Brazilian government showed the country's economy was in rude health over the period, marking it out as an ideal location for overseas property investment.

The strong rate of GDP growth has been attributed to rapid augmentation in the agribusiness and construction sectors by the Instituto Brasileiro de Geografia e Estatistica, the Associated Press reports.

However, with the global economic crisis likely to have impinged on Brazilian expansion in October, November and into December, growth has been tipped to slow in the final quarter of the year.

Even so, economists believe the country's economic growth for the year could be over the five per cent mark, meaning it still represents an attractive property investment location.

The Instituto Brasileiro de Geografia e Estatistica - or the Brazilian Institute of Geography and Statistics - concerns itself with Brazil's statistical, geographic, cartographic, geodetic and environmental data.

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