Brazilian economic growth to regain strong momentum in Q4

Brazilian Finance Minister Guido Mantega said Thursday that the country will regain momentum of higher economic growth in the 4th quarter this year following poor performances in the previous two quarters. Mantega, who is in Paris for Friday's G20 finance ministers' meeting, also said the Brazilian economy will manage an overall growth of 3.5 to 4 percent this year. Brazil registered a 1.2-percent GDP expansion in the first quarter, but the growth rate lowered to 0.8 percent in the following quarter. The GDP grew 3.6 percent in the first half of the year, compared with the same period of last year. Economic figures for the third quarter have not yet been published. Mantega expected Brazil's GDP to grow 5 percent in 2012 despite the negative global scenario. The Brazilian National Industry Confederation Tuesday revised down its forecast for Brazil's economic growth this year to 3.4 percent from 3.8 percent due to the impacts of the world economic crisis.