BRASILIA, Nov 17 (Reuters) - The Brazilian economy ended the third quarter in negative territory, central bank data showed on Friday, reversing a performance that had been surprisingly positive due to a booming farming sector.
The IBC-Br index, a key predictor of gross domestic product (GDP), posted a seasonally adjusted 0.64% decline in the third quarter.
The Finance Ministry last estimated a 3.2% gross domestic product (GDP) growth for this year after a robust first-half performance, a figure expected to be revised next week.
Meanwhile, private economists surveyed weekly by the central bank project a 2.89% increase in GDP for this year.
The September IBC-Br index was in line with a negative performance of the service sector, which accounts for roughly 70% of the country's activity, said Nova Futura economist Nicolas Borsoi.
Persons:
Fernando Haddad, Nicolas Borsoi, Luiz Inacio Lula da Silva's, Marcela Ayres, Steven Grattan
Organizations:
IBC, Reuters, Finance, Finance Ministry, Nova Futura, Thomson
Locations:
BRASILIA, Brazilian