The Brazilian gross domestic product expanded by 1.8% from the previous year during the third quarter of 2025, slowing from the upwardly revised 2.4% growth rate in the previous year. It marked the softest expansion in over three years, reflecting the impact of the prolonged period of high interest rates by the central bank, among the highest in the world on a real basis, as large fiscal expenditure and stubborn inflation maintain a hot labor market. Output of agricultural goods soared by 10.1% and industrial output rose by 1.7%, while services grew by a softer 1.3%.