SÃO PAULO -- Brazil's economy grew at the fastest pace in six quarters in the three months through September, as record low interest rates spurred consumer spending and investment.
Brazil's gross domestic product expanded 0.6% in the third quarter from the previous quarter and 1.2% from the same period a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday.
In the second quarter, GDP expanded a revised 0.5% from the previous three-month period and 1.1% from a year earlier.
The faster growth comes as declining inflation has led to unprecedentedly low borrowing costs. The Brazilian central bank's benchmark lending rate is now 5%, compared with 14.25% three years ago, and the bank has signaled another half-point rate cut next week at its last policy meeting of 2019. RTRS